Dolly Varden Silver (TSXV:DV) has successfully completed a C$28 million bought-deal offering, with participation from noted mining investor Eric Sprott.
The company has uncovered a substantial gold and silver resource at its flagship Kitsault Valley project, with numerous targets indicating potential for additional ounces to be discovered.
Dolly Varden is a junior silver and gold mining company operating in the Golden Triangle region of British Columbia.
The stock of Dolly Varden Silver has seen a year-over-year increase of 63.64% and a significant rise of 217.65% since 2019.
The recent C$28 million bought-deal offering includes C$10 million worth of common shares priced at C$1, C$18 million worth of flow-through shares priced at C$1.25, and a 15% over-allotment option facilitated by underwriters. The funds raised will be used for working capital, exploration, and drilling at the Kitsault Valley project in northwestern British Columbia.
The Kitsault Valley project has attracted significant investment from Eric Sprott due to its high-grade silver and gold resource, with indicated and inferred gold and silver ounces in significant quantities. Recent drill results at the Moose and Wolf targets have shown high-grade mineralization, indicating the project’s potential for expansion.
Key stakeholders in Dolly Varden, including Fury Gold Mines and Hecla Mining, have shown confidence in the company’s growth prospects. Institutional owners, including Sprott Inc., also maintain a significant stake in the company.
Dolly Varden Silver is actively involved in the exploration and mining of silver and gold in British Columbia’s Golden Triangle region. The stock last traded at C$1.08 per share and has shown strong performance over the past few years.
For more information and discussions on Dolly Varden Silver, interested parties can visit the company’s Bullboard on Stockhouse and engage in stock forums and message boards.
Please note that the information provided is for informational purposes only and should not be considered as investment advice. For full disclaimer information, please refer to the provided link.
(Image source: Dolly Varden Silver)
