Mentioned:
There is a silver boom underway. And now, there’s a new publicly traded company aiming to bring one of Argentina’s largest silver deposits into production.
What’s happening:
- Argenta Silver (TSXV: AGAG) has officially gone public, listing on the TSX Venture Exchange
Why it matters:
- Argenta Silver is backed by legendary mining financier and billionaire Frank Giustra and owns one of the largest silver deposits in all of Argentina
Going deeper:
- Argenta Silver’s flagship silver property El Quevar was previously owned by Golden Minerals (NYSE: AUMN) prior to their massive collapse in share price which led them to sell off all of their high quality assets
- Silver prices have been continually going higher, which has led to multiple publicly listed companies beginning to acquire new promising projects including Couer Mining’s (NYSE: CDE) notable buyout of SilverCrest (NYSE: SILV) and Vizsla Silver (NYSE: VZLA) purchasing a new property in Mexico
By the numbers:
- A previous preliminary economic assessment showed that El Quevar has a existing deposit of approximately 49.4 million ounces of silver
- Roughly $70M USD had previously been invested into drilling at El Quevar
The intrigue:
- Frank Giustra is also one of the largest shareholders of West Red Lake Gold (TSXV: WRLG) who recently raised a large financing round to restart the historic Madsen Gold Mine in Ontario, Canada
