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Sun Silver to make its ASX debut with a $13 million IPO
Sun Silver Limited (proposed ASX Code: "SS1") has announced the opening of its Initial Public Offering (IPO) today, aiming to raise a minimum of $10 million and a maximum of $13 million (before costs). The IPO will bring to market the Maverick Springs Silver-Gold Project, a globally significant silver-gold deposit located in Nevada, USA.
The Maverick Springs Project hosts a JORC compliant Inferred Mineral Resource of 125.4Mt grading 43.5g/t Ag and 0.34g/t Au, containing 175.7Moz of silver and 1.37Moz of gold (292Moz of silver equivalent). The deposit remains open along strike and at depth, with approximately 200 holes for 60,000 metres of drilling completed to date.
Sun Silver Executive Director, Gerard O'Donovan, expressed the company's excitement about launching the IPO during a time of growing investor interest in the silver industry, driven by increasing demand from industrial and high-tech applications, particularly the solar industry.
"What sets us apart is that Sun Silver is underpinned by a globally significant gold-silver resource, comprising 292Moz of silver equivalent, in the Tier-1 jurisdiction of Nevada, including 175 million ounces of contained silver," O'Donovan said.
The company plans to use the funds raised from the IPO to complete in-fill and resource expansion drilling at the Maverick Springs Project, expand on previous metallurgical testwork, commence mine and processing studies, and assess the feasibility of silver paste and solar energy opportunities.
Sun Silver has appointed Wagtail Capital as Lead Broker to the raise, with the IPO scheduled to close on 17 May 2024. The company aims to list on the ASX around 5 June 2024, with a market capitalization of approximately $25 million at listing, assuming maximum subscription.
O'Donovan highlighted the potential of the Maverick Springs Project, stating, "We are looking forward to unlocking the potential of the Maverick Springs Project, which offers significant upside from targeted exploration along strike from the current Resource. We are looking forward to completing our listing, which will see Sun Silver become one of the largest silver stocks on the ASX in terms of resources and commencing work programs on the ground to grow the resource and advance the project towards development."
Sun Silver to make its ASX debut with a $13 million IPO
Sun Silver Limited (proposed ASX Code: "SS1") has announced the opening of its Initial Public Offering (IPO) today, aiming to raise a minimum of $10 million and a maximum of $13 million (before costs). The IPO will bring to market the Maverick Springs Silver-Gold Project, a globally significant silver-gold deposit located in Nevada, USA.
The Maverick Springs Project hosts a JORC compliant Inferred Mineral Resource of 125.4Mt grading 43.5g/t Ag and 0.34g/t Au, containing 175.7Moz of silver and 1.37Moz of gold (292Moz of silver equivalent). The deposit remains open along strike and at depth, with approximately 200 holes for 60,000 metres of drilling completed to date.
Sun Silver Executive Director, Gerard O'Donovan, expressed the company's excitement about launching the IPO during a time of growing investor interest in the silver industry, driven by increasing demand from industrial and high-tech applications, particularly the solar industry.
"What sets us apart is that Sun Silver is underpinned by a globally significant gold-silver resource, comprising 292Moz of silver equivalent, in the Tier-1 jurisdiction of Nevada, including 175 million ounces of contained silver," O'Donovan said.
The company plans to use the funds raised from the IPO to complete in-fill and resource expansion drilling at the Maverick Springs Project, expand on previous metallurgical testwork, commence mine and processing studies, and assess the feasibility of silver paste and solar energy opportunities.
Sun Silver has appointed Wagtail Capital as Lead Broker to the raise, with the IPO scheduled to close on 17 May 2024. The company aims to list on the ASX around 5 June 2024, with a market capitalization of approximately $25 million at listing, assuming maximum subscription.
O'Donovan highlighted the potential of the Maverick Springs Project, stating, "We are looking forward to unlocking the potential of the Maverick Springs Project, which offers significant upside from targeted exploration along strike from the current Resource. We are looking forward to completing our listing, which will see Sun Silver become one of the largest silver stocks on the ASX in terms of resources and commencing work programs on the ground to grow the resource and advance the project towards development."
Sun Silver Limited (proposed ASX Code: "SS1") has announced the opening of its Initial Public Offering (IPO) today, aiming to raise a minimum of $10 million and a maximum of $13 million (before costs). The IPO will bring to market the Maverick Springs Silver-Gold Project, a globally significant silver-gold deposit located in Nevada, USA.
The Maverick Springs Project hosts a JORC compliant Inferred Mineral Resource of 125.4Mt grading 43.5g/t Ag and 0.34g/t Au, containing 175.7Moz of silver and 1.37Moz of gold (292Moz of silver equivalent). The deposit remains open along strike and at depth, with approximately 200 holes for 60,000 metres of drilling completed to date.
Sun Silver Executive Director, Gerard O'Donovan, expressed the company's excitement about launching the IPO during a time of growing investor interest in the silver industry, driven by increasing demand from industrial and high-tech applications, particularly the solar industry.
"What sets us apart is that Sun Silver is underpinned by a globally significant gold-silver resource, comprising 292Moz of silver equivalent, in the Tier-1 jurisdiction of Nevada, including 175 million ounces of contained silver," O'Donovan said.
The company plans to use the funds raised from the IPO to complete in-fill and resource expansion drilling at the Maverick Springs Project, expand on previous metallurgical testwork, commence mine and processing studies, and assess the feasibility of silver paste and solar energy opportunities.
Sun Silver has appointed Wagtail Capital as Lead Broker to the raise, with the IPO scheduled to close on 17 May 2024. The company aims to list on the ASX around 5 June 2024, with a market capitalization of approximately $25 million at listing, assuming maximum subscription.
O'Donovan highlighted the potential of the Maverick Springs Project, stating, "We are looking forward to unlocking the potential of the Maverick Springs Project, which offers significant upside from targeted exploration along strike from the current Resource. We are looking forward to completing our listing, which will see Sun Silver become one of the largest silver stocks on the ASX in terms of resources and commencing work programs on the ground to grow the resource and advance the project towards development."
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