Silver Crown Royalties (Cboe: SCRI) reached an all-time high on Tuesday following a C$3 million ($2.2 million) investment from prominent investor Michael Gentile. Gentile purchased 424,500 units at C$7 each, with shares trading at C$8.51 before surging over 25% to C$10.74 mid-day, settling at approximately $10.20.
Gentile, co-founder of Montreal-based Bastion Asset Management and a significant shareholder in over 25 junior mining companies, will also serve as a strategic advisor for Silver Crown. The investment proceeds will primarily fund specific silver royalties and support general working capital, aiming to capitalize on the favorable outlook for rising silver prices, which recently peaked at over $89 an ounce.
Silver Crown currently holds royalties on five mining properties across Canada and Latin America, including PPX Mining’s Igor mine in Peru and the Scotia mine in Canada. The company’s market capitalization stands at C$38.6 million ($27.8 million).
