Mantaro Precious Metals ( (TSE:FAS) ) has issued an update.
First Andes Silver Ltd. has successfully closed an oversubscribed private placement financing, raising $1,065,000 through the issuance of 21,300,000 common shares. The funds will be used for a follow-up drill program at the Santas Gloria silver property and general working capital. The participation of Ian Stalker, the Executive Chairman, in the financing is considered a related party transaction but is exempt from certain regulatory requirements. This financing supports the company’s ongoing exploration efforts and strengthens its position in the silver mining industry.
More about Mantaro Precious Metals
First Andes Silver Ltd. is a British Columbia-based company with a 100% interest in the high-grade Santas Gloria silver property, located in a major mining district 100 km east of Lima, Peru. The property is situated within a well-known intermediate sulphidation belt and features over 12 km of multiphase veins that have been explored using modern techniques since 2024.
YTD Price Performance: 100.0%
Average Trading Volume: 14,179
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $2.07M
See more data about FAS stock on TipRanks’ Stock Analysis page.