Silver Tiger raises C$40m for Mexico project development
TSX-V-listed Silver Tiger Metals has announced a C$40-million bought deal financing to advance exploration and development at its El Tigre silver and gold project in Sonora, Mexico.
The company entered into an agreement with a syndicate of underwriters led by BMO Capital Markets and Stifel Nicolaus Canada, which will purchase 54.8-million common shares at C$0.73 a share. The underwriters have also been granted a 30-day option to acquire up to an additional 15% of the offering to cover overallotments.
The financing is expected to close on or about November 26, subject to regulatory approvals. Proceeds will be directed towards exploration, development and general corporate purposes.
Silver Tiger’s El Tigre project covers 28 414 ha in Mexico’s historic El Tigre mining district. A 2024 prefeasibility study for the openpit operation outlined an after-tax net present value of $222-million, an internal rate of return of 40%, and a two-year payback period, based on a ten-year mine life and initial capital of $86.8-million.
The operation is projected to produce at all-in sustaining costs of $1 214/oz gold equivalent ($14/oz silver equivalent), with project economics modelled at $26/oz silver and $2 150/oz gold.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
















