Silver Tiger Secures C$40 Million in Financing
Silver Tiger Metals Inc. (TSXV:SLVR) is excited to announce a significant milestone—closing its bought deal of approximately C$40 million. This financing involved selling 54,800,000 common shares at C$0.73 each. With this influx of capital, the Company is set to enhance its operations, particularly at the El Tigre Project, a historically rich silver and gold mining site in Mexico.
Utilization of Proceeds
The funds raised through this offering will be strategically allocated to key areas: exploration and development activities at El Tigre, alongside general working capital needs. This financing marks a critical step for Silver Tiger as they aim to accelerate their growth and maximize the potential of their assets.
Leading Underwriters of the Deal
The financial backing was led by a skilled syndicate of underwriters, including BMO Capital Markets and Stifel Nicolaus Canada Inc., with additional support from Canaccord Genuity Corp., Desjardins Securities Inc., and Ventum Financial Corp. This collaboration demonstrates strong confidence in Silver Tiger’s initiatives and growth potential.
About El Tigre Project
Silver Tiger’s El Tigre Project, covering 28,414 hectares in the Sonora region, stands out for its impressive mineral yields. The Company has diligently worked since 2017 to explore and develop this site. They have drilled over 150,000 meters, with significant progress made post-2020. The most recent resource estimates and a Preliminary Economic Assessment (PEA) highlight the project’s robust economic viability.
Positive Economic Indicators
The PEA released in late 2023 shows promising projections, with an after-tax net present value of US$222 million at a 5% discount rate, a remarkable internal rate of return of 40%, and a payback period of only two years. This open-pit operation is expected to sustain a 10-year mine life, delivering significant cash flow.
Commitment to Responsible Practices
Silver Tiger is committed to ethical environmental and social governance practices. Their approach integrates sustainability at every level, reinforcing their responsibility towards the ecosystems they operate in. The management team, with over 27 years of collective experience in the mining sector, ensures that each step forward respects these commitments.
Future Development Goals
As Silver Tiger moves forward, their plans include continued investment in technological advancements and exploratory initiatives at El Tigre. By leveraging innovative platforms like VRIFY, they aim to enhance communication with stakeholders while showcasing their mining assets through advanced presentations and virtual tours.
Company Contact Information
For those seeking further information on Silver Tiger and their endeavors, you can reach out to:
Glenn Jessome
President and CEO
902 492 0298
jessome@silvertigermetals.com
Frequently Asked Questions
What is Silver Tiger’s latest financing achievement?
Silver Tiger Metals Inc. has successfully closed a C$40 million bought deal financing to enhance its project developments.
How will the funds from the offering be utilized?
The raised funds will be allocated to exploration and development at the El Tigre Project as well as for general working capital purposes.
Who were the key underwriters for this financing?
The financing was led by BMO Capital Markets and Stifel Nicolaus Canada Inc., joined by other financial partners.
What are the promising aspects of the El Tigre Project?
The recent PEA presented positive economic indicators, including a substantial NPV and a high internal rate of return, showcasing the project's viability.
How does Silver Tiger ensure responsible practices?
Silver Tiger focuses on environmental and social governance in all aspects of their operations, committing to ethical mining practices.
