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

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

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.

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.