Northwire Canada EditionThursday, November 12, 2026
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Gold 4,000.50 −0.7% Silver 52.00 +1.5% Copper 6.27 +0.5% Oil 86.53 +0.6% Palladium 1,030.00 +0.9% TIG 0.800 +0.0% RVG 0.715 −4.0% FNV 354.26 −2.4% FDY 4.30 −0.5% MAU 16.05 −3.2% VOXR 6.78 −0.6% TLO 7.04 −1.0% NICU 1.95 −5.8% VTEN 0.440 +0.0% AWM 0.025 +0.0% OR 50.79 −1.8% AUXX 5.30 −5.5% TNR 0.420 +40.0% ORCL 0.030 +0.0% ELD 47.71 −5.4% OPW 0.140 −6.7% Gold 4,000.50 −0.7% Silver 52.00 +1.5% Copper 6.27 +0.5% Oil 86.53 +0.6% Palladium 1,030.00 +0.9% TIG 0.800 +0.0% RVG 0.715 −4.0% FNV 354.26 −2.4% FDY 4.30 −0.5% MAU 16.05 −3.2% VOXR 6.78 −0.6% TLO 7.04 −1.0% NICU 1.95 −5.8% VTEN 0.440 +0.0% AWM 0.025 +0.0% OR 50.79 −1.8% AUXX 5.30 −5.5% TNR 0.420 +40.0% ORCL 0.030 +0.0% ELD 47.71 −5.4% OPW 0.140 −6.7%
Financings

Silver Tiger Metals Inc. Announces Bought Deal Financing

High-Valuation Financing Validates El Tigre Economics Amid Aggressive Base-Case Assumptions

By The Northwire Desk — AI Analysis Jan 27, 2026 · 16:39 SLVR · 1.33 Silver Tiger Metals Inc.
Executive Summary

The most recent news (January 27, 2026) announces a "bought deal" public offering for gross proceeds of approximately $40 million CAD. The company is issuing 34,189,000 common shares at a price of $1.17 per share. This follows the January 20-23 news filings of a Preliminary Economic Assessment (PEA) for the underground mine and an updated Pre-Feasibility Study (PFS) for the Stockwork Zone at the El Tigre Project. The studies highlight significant after-tax NPVs ($304M for PEA, $456M for PFS) but notably utilize aggressive base-case metal price assumptions of $38/oz silver and $3,200/oz gold.

Material Impact
  • Positive Validation: Successfully raising $40M at $1.17 is a significant step up from the $0.72-$0.73 levels seen in late 2025 and the $0.33 level in early 2025. This indicates strong institutional appetite and validates the project's transition from exploration to development.
  • CAPEX Gap: While $40M is substantial, the combined initial capital for the Stockwork Zone ($86.8M USD) and the Underground PEA ($83.5M USD) suggests the company still requires significantly more capital to reach production. At current exchange rates, the $40M CAD covers less than 35% of the Stockwork Zone's initial requirement.
  • Aggressive Modeling: The materiality of the NPV figures ($760M USD combined) is tempered by the pricing assumptions. While spot prices are high, using $38 silver for a base-case study is risky; any reversion to mean silver prices (mid-$20s) would likely slash these NPV figures by 40-50%.
  • Shareholder Dilution: The company has been in a constant state of financing, closing deals in April, October, and November 2025, and now January 2026. This aggressive dilution is necessary for construction but places a heavy burden on the stock to perform relative to the increasing share count.
SLVR · Price
Company Overview

Silver Tiger Metals is focused on the El Tigre Historic Mine District in Sonora, Mexico. - Flagship Project: El Tigre Project (100% owned, 28,414 hectares). - Project Components: An open-pit Stockwork Zone (PFS stage) and a high-grade Underground Zone (PEA stage). - Economics: The project mimics the "Sierra Madre" style mineralization seen at Las Chispas and Santa Elena. It features high-grade veins, a sulfide zone, and a shale zone.

Read the original news release →

More from Silver Tiger Metals Inc.

Oct 20, 2026 · 07:00

Silver Tiger’s El Tigre project remains on schedule and fully funded with capital expenditure capped at US$124 million.

Production / Operations Oct 13, 2026 · 09:18

Silver Tiger raised C$100m to fund construction of the El Tigre project.

Financings Oct 08, 2026 · 14:34

Silver Tiger’s dilutive $87 million bought deal at $1.00 underscores cost overruns at its El Tigre project.

Financings Sep 21, 2026 · 16:05

Silver Tiger secures C$87M to fund the El Tigre project, marking a 42% increase in capital expenditure for the development.

Financings Sep 14, 2026 · 07:00

Silver Tiger joins GDXJ as the El Tigre project targets its first pour in December 2027.

Production / Operations Sep 11, 2026 · 07:00

Silver Tiger extends El Tigre 700 m north with near-surface Caleigh bonanza and broad northern stockwork.

Drill Results