Welcome to our dedicated page for SILVER BULLET MINES news (Ticker: SBMCF), a resource for investors and traders seeking the latest updates and insights on SILVER BULLET MINES stock.
Silver Bullet Mines Corp (OTCQB: SBMCF; TSXV: SBMI) is an other precious metals and mining company focused on high-grade gold and silver projects in the United States. Its news flow centers on operational milestones at its mines and on the performance of its hub and spoke model built around a wholly owned mill and assay facility near Globe, Arizona.
Readers following SBMCF news can expect detailed updates on production and development at the KT Mine, the Super Champ (SC) Mine, the King Tut Gold Mine, and the Washington Mine in Idaho. Recent announcements have covered discoveries of new potential silver/gold zones at KT, visible gold in blasted material, and the progression from bulk sampling to commercial shipments of gold and silver concentrate.
News releases also highlight agreements with a major offtake client, including contracts to purchase silver concentrate from the SC Mine and to buy direct ship material from the KT and SC Mines. These items provide insight into how the company moves from exploration and development to concentrate sales and cash flow.
In addition to mine and mill updates, Silver Bullet Mines’ news includes information on mill throughput, assay results from its in-house lab and independent laboratories, QA/QC procedures, and site work such as adit timbering and underground development. Corporate updates on financings, warrant exercises, and debt conversions are also disclosed, giving context on how the company funds its projects.
For investors and observers tracking SBMCF, this news page offers a centralized view of exploration results, operational progress, concentrate shipments, and key commercial agreements across Silver Bullet Mines’ portfolio.
Silver Bullet Mines Corp. (SBMI) provided updates on its Washington Mine property in Idaho and announced changes to its board and financing plans:
- Preparing for mining at the Washington Mine, a historical high-grade gold/silver producer
- Appointed Kerem Usenmez, an experienced mining engineer, to the board of directors
- Plans to start production at 50 tons per day in the coming months, targeting a zone with reported grades of 44 oz/ton silver
- Will extract ~2,500 tons of high-grade material to stockpile before shipping to a mill
- Intends to issue a convertible debenture up to $1 million to finance operations, with a lead order of $300,000 from existing shareholders
- The debenture will have a 3-year term, 12% annual interest, and be convertible to shares at $0.10-$0.14 depending on the period
Silver Bullet Mines (SBMI) is nearing completion of testing a 350-ton stockpile of material from a third party's past silver mine. The material was processed at SBMI's mill in Globe, Arizona, producing silver dore bars weighing 2551.1 grams (90 ounces) and 2834.9 grams (100 ounces). The company is also progressing with rock bolting at the Buckeye Silver Mine, having completed over 400 feet, and expects to speed up as they move out of difficult drilling conditions. SBMI aims to determine the economic feasibility of processing the remaining 30,000 tons of material or potentially acquiring the third-party site.
Silver Bullet Mines (TSXV: SBMI, OTCQB: SBMCF) has successfully closed a debenture financing amounting to $940,000 as of May 14, 2024. A commission fee of $6,450 was paid, and 53,750 broker warrants were issued. The funds will be used to advance operations at the Buckeye Silver Mine in Arizona, commence work at the Washington Mine in Idaho, and for general working capital. Progress at the Buckeye Silver Mine is on schedule and within budget. The company is also processing material from a third-party historical mine site and plans to publish more data soon. Additionally, SBMI extended a previous debenture, now due June 30, 2024, with an 11% annual interest rate.
Silver Bullet Mines Corp. has begun processing third-party silver material at its Arizona plant, sourced from a property with high-grade silver ores. Initial results show promising numbers with efficient processing methods, potentially leading to a cost-effective production of silver bars. The company is also evaluating the property hosting the material for potential acquisition. SBMI is utilizing its efficient mill and assay complex to generate revenue while preparing for mining at Buckeye Silver Mine. The PR highlights the positive impact on production efficiencies and revenue generation for SBMI.
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