Southern Silver Exploration (SSV.V) plans to top up its treasury with the proceeds of a C$4M LIFE financing. The warrant-free financing is priced at C$0.60 and this may be the first time in the company’s history it doesn’t have to issue a warrant as a sweetener to raise cash. The proceeds will be used on the flagship Cerro Las Minitas project in Mexico where an updated resource is expected later this quarter (after the financing closes). This updated resource will include the drill data from the recently acquired Puro Corazon claim.
While C$4M isn’t an enormous amount, we of course support any no-warrant financing that helps to keep the treasury at a comfortable level.
Disclosure: The author has no position in Southern Silver Exploration. Southern Silver is a sponsor of the website. This post is for educational purposes only; be mindful investing in junior mining stocks is risky and you may lose your entire investment if things go wrong. Please read the disclaimer.
