- Silver Dollar Resources (CSE:SLV) will undertake a C$1.5 million non-brokered private placement with qualified investors, including billionaire mining investor Eric Sprott
- The junior miner will allocate the funds to the initial drill campaign at its recently acquired Ranger-Page project in Idaho’s Silver Valley
- Silver Dollar is a mineral exploration company developing projects within Idaho’s prolific Silver Valley and Mexico’s Durango-Zacatecas silver-gold belt
- Silver Dollar Resources stock has added 25 per cent year-over-year, but has lost 3.23 per cent since inception in 2020
Silver Dollar Resources (CSE:SLV) will undertake a C$1.5 million non-brokered private placement with qualified investors, including billionaire mining investor Eric Sprott.
Silver Dollar will allocate the funds to the initial drill campaign at its recently acquired Ranger-Page project in Idaho’s Silver Valley, as well as to general working capital purposes.
The drill-ready Ranger-Page covers six historic mines in a world-class silver district and boasts a target portfolio backed by surface trenching, geochemical data, historic underground mining and induced polarization anomalies.
The junior miner will issue up to six million units priced at C$0.25, with each unit consisting of one common share and one-half of one non-transferable share purchase warrant, and each warrant entitling the holder to buy one additional share for C$0.40 for two years from the closing of the offering. All securities issued will be subject to a hold period of four months from the closing date.
According to data from Simply Wall Street, Sprott owns 13.8 per cent of Silver Dollar Resources, coming in at a close second to First Majestic Silver (TSX:AG) at 15.9 per cent.
About Silver Dollar Resources
Silver Dollar is a mineral exploration company developing projects within Idaho’s prolific Silver Valley and Mexico’s Durango-Zacatecas silver-gold belt.
Silver Dollar Resources stock (CSE:SLV) is down by 3.23 per cent trading at C$0.30 per share as of 9:32 am ET. The stock has added 25 per cent year-over-year, but has lost 3.23 per cent since inception in 2020.
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(Top photo looking northwest from the Ranger-Page project with I-90 and the town of Smelterville on the right: Silver Dollar Resources)