Silver Tiger Metals – Eric Sprott And A Syndicate Of Long Only Institutional Funds Participated In Recently Closed $15 Million Bought Deal Financing
Glenn Jessome, President and CEO of Silver Tiger Metals (TSX.V:SLVR – OTCQX:SLVTF), joins me to outline the quality of the participants in their recently closed $15 Million bought deal financing, and why this was the right time to the raise capital. We expand the conversation to break down how the funds will be deployed in the ongoing exploration and development work at their 100% owned, silver-gold El Tigre Project in Mexico.
The syndicate of underwriters in this Offering was led by Stifel Canada and Desjardins Capital Markets, as co-lead underwriters and joint bookrunners, and BMO Capital Markets, SCP Resource Finance LP, Ventum Financial Corp., and Canaccord Genuity Corp. Eric Sprott also participated as a key strategic shareholder in this financing, with a show of support for the project and business strategy; after having come in during the prior capital raise back in 2022.
Glenn discusses that this interest from institutions and key stakeholders came in as a result of meetings and presentations at overseas mining conferences in Switzerland. He mentioned that when considering the backdrop of macroeconomic volatility and uncertainty in the markets, that it really was the right time to execute on this financing. We reviewed how the Project was advanced and how many Company milestones were achieved from the prior capital raised; and how these funds would allow the operations team to hit the ground running with many key lead items and initiatives on the open-pit mine build, just as soon as the permits are received.
Wrapping up we focus on the ongoing work programs as they await their open-pit permits. Glenn is lining up and analyzing financial term sheets for the capex needed to build the open-pit mine at El Tigre. Additionally, the company is continuing to drill from underground targeting the high-grade silver veins, and the Sulfide and Shale Zones that will feed into the upcoming PEA on the second phase of underground mining, due out by June of this year.
If you have any follow up questions for Glenn about Silver Tiger, then please email me at Shad@kereport.com.
- In full disclosure, Shad is a shareholder of Silver Tiger Metals at the time of this recording, and may choose to buy or sell shares at any time.
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