Canadian-listed Silver Tiger Metals has closed a CAD40mn share placement to fund work at its El Tigre silver and gold asset in Mexico's Sonora state, Mining Weekly reported.
The miner struck a deal with underwriters led by BMO Capital Markets and Stifel Nicolaus Canada to sell 54.8mn shares priced at CAD0.73 each. Bankers received a 30-day greenshoe option allowing them to place an extra 15% of the base offering.
The transaction should conclude around November 26 pending regulatory clearance. Capital will flow into exploration activities, development work and routine corporate expenditure.
The El Tigre asset spans 28,414 hectares within a historic mining belt. A prefeasibility assessment completed in 2024 for the proposed openpit mine calculated an after-tax net present value of $222mn alongside a 40% internal rate of return and two-year capital recovery period. These figures assume a decade of production following $86.8mn in upfront spending.
All-in sustaining costs are forecast at $1,214 per ounce gold equivalent, or $14 per ounce silver equivalent. Economic modelling incorporated silver at $26 per ounce and gold at $2,150 per ounce.
The capital injection positions Silver Tiger to progress the asset through permitting stages toward potential construction. Mexico's mining industry has drawn considerable investment flows recently, especially for precious metals developments in established mineral districts across Sonora and neighbouring states.
© 2025 bne IntelliNews, source Magazine