The price of silver is on a tear. And legendary mining investor Eric Sprott is pouring more cash into silver exploration companies to take advantage.
What’s happening:
- Silver Dollar Resources (CSE: SLV) has raised $1.5M CAD in a new financing round
By the numbers:
- The round was led by legendary mining entrepreneur and natural resource financier Eric Sprott, who invested $750K CAD and remains the largest individual shareholder of Silver Dollar Resources
Why it matters:
- Silver prices have been surging, which has led to a flurry of activity in the public markets including Coeur Mining (NYSE: CDE) making a buyout offer for SilverCrest (NYSE: SILV) and Vizsla Silver (NYSE: VZLA) purchasing another property for silver exploration in Mexico
Going deeper:
- The new financing round will largely go towards funding the drilling plans at Silver Dollar Resource’s newly acquired Ranger-Page project located in Idaho
- The Ranger-Page project is an advanced property in the Coeur d’Alene mountains of Idaho that covers half a dozen historic silver mines and is nearby many prominent large scale silver discoveries
The intrigue:
- Another Canadian titan of precious metals Frank Giustra just recently launched his first ever pure play silver company Argenta Silver onto the TSX Venture Exchange
