(www.investorideas.com
Newswire) – Investorideas.com reports breaking silver stock news
and trading for silver stock Apollo Silver Corp. (TSX.V:APGO, OTCQB:APGOF, Frankfurt:6ZF0) .
Apollo Silver Corp. (TSX.V:APGO, OTCQB:APGOF, Frankfurt:6ZF0) closed yesterday at $6.18, up 0.46,
gaining 8.04% on volume over 340,000 shares as the silver bull run
roars on.
Gold and silver prices rose to new record highs on Tuesday amid
escalating geopolitical tensions, after President Trump threatened
over the weekend to impose tariffs on several European countries
unless they agree to U.S. control over Greenland.
Commodity investors seized the trading opportunity and well
–known stocks in the sector saw significant gains.
The threats, detailed in a Truth Social post, targeted eight
nations—including Denmark (which holds sovereignty over
Greenland), Norway, Sweden, France, Germany, the United Kingdom, the
Netherlands, and Finland—with a 10% tariff on imports to the
U.S. starting February 1, escalating to 25% on June 1, until a deal is
reached for the “Complete and Total purchase of Greenland.”
This renewed push for Greenland, combined with the tariff leverage,
sparked safe-haven buying in precious metals. Gold futures climbed
above $4,700 per ounce (reaching levels around $4,750–$4,765 in
some reports), while silver hit all-time highs near $95 per ounce
(with peaks reported up to $95.34 or higher).
Apollo Silver is advancing one of the largest undeveloped primary
silver projects in the US. The Calico project hosts a large, bulk
minable silver deposit with significant barite credits – a
critical mineral essential to the US energy and medical sectors. The
Company also holds an option on the Cinco de Mayo Project in
Chihuahua, Mexico, which is host to a major carbonate replacement
(CRD) deposit that is both high-grade and large tonnage. Led by an
experienced and award-winning management team, Apollo Silver is well
positioned to advance the assets and deliver value through exploration
and development.
On December 29th they
announced
they upsized its previously announced non-brokered private placement
by an additional $2,500,000, to be subscribed for primarily by
insiders of the Company, for total aggregate gross proceeds of up to
$27,500,000, through the issuance of up to 5,500,000 units (the
“Units”) at a price of $5.00 per Unit (the “Upsized
Offering”).
As previously announced, Mr. Eric Sprott and a fund managed by Jupiter
Asset Management (the “Jupiter Fund”), Apollo
Silver’s two largest shareholders, are participating in the
Upsized Offering, and will each subscribe for 2,500,000 Units of the
Company, for combined gross proceeds of $25,000,000. Following
completion of the Upsized Offering, the Jupiter Fund will own
approximately 12% of Apollo Silver’s issued and outstanding
common shares, while Eric Sprott will own approximately 9.5%, on an
undiluted basis. On a partially diluted basis, each investor’s
ownership interest will increase accordingly.
Each Unit issued pursuant to the Upsized Offering will consist of one
common share (a “Share”) in the capital of the Company and
one common Share purchase warrant (a “Warrant”). Each
Warrant entitles the holder thereof to purchase one Share at an
exercise price of $7.00 for 24 months from the closing date of the
Upsized Offering.
All securities issued in connection with the Upsized Offering will be
subject to a four-month hold period from the date of closing.
Finder’s fees may be payable on some or all of the funds raised,
in accordance with the policies of the TSX Venture Exchange (the
“TSXV”). The Company intends to use the net proceeds from
the Upsized Offering to fund exploration and development activities
across the Company’s projects, as well as for general working
capital and corporate purposes.
Full news
https://ca.finance.yahoo.com/news/apollo-silver-announces-2-5-120000011.html
Apollo Silver Corp. (TSX: APGO.V) (OTCQB:APGOF) (Frankfurt:6ZF0) is a
featured mining stock on Investorideas.com
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a
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