HomeMarket NewsMiningInvestors Rally Behind Coeur's $25 Million Funding Initiative for Canadian Venture

Investors Rally Behind Coeur’s $25 Million Funding Initiative for Canadian Venture

Daily Market Recaps (no fluff)

always free


The Silvertip Project Revival

The Silvertip mine and mill in B.C. have been on care and maintenance since 2020. Credit: Coeur Mining

Coeur Mining (NYSE: CDE) is embarking on an initiative to offer approximately 7.7 million flow-through shares, aiming to secure C$34 million ($25m). This capital injection will be channeled towards propelling exploration activities at its Silvertip silver-zinc-lead property, nestled in the heart of British Columbia, a mere 16 km south of the Yukon border.

blank

The strategic acquisition of the Silvertip mine and mill in 2017 was indeed a pivotal move by Coeur. However, operations at the site came to a standstill in 2020. Notably, the company had already invested a substantial sum of over C$100 million into the project by that time. The endeavors at Silvertip saw remarkable progress, with the highlight being a record-high drill intercept of 4.9 meters boasting an impressive composition: 1,261 g/t silver, 22.4% zinc, 22.0% lead, 0.13 g/t gold, 0.2% copper, 70 ppm indium, 60 ppm gallium, and 0.08% tin.

Do you want a daily market summary with no fluff?

Simple Straightforward Daily Stock Market Recaps Sent for free,every single trading day: Read Now

Explore More

Simple Straightforward Daily Stock Market Recaps

Get institutional-level analysis to take your trading to the next level, sign up for free and become apart of the community.