Summa Silver (TSXV: SSVR) is currently taking a dip from recent highs. Given recent announcements from the company, I suspect this dip to be a good time to get in.
Summa recently announced first drill results from its Mogollon property, highlighting 11.6 m of 450 g/t Ag and .9 m of 1,940 g/t Ag. The newly drilled mineralized zone remains open to expansion in all directions.
These assay results show that Summa now has two high-grade silver projects, both of which it believes will prove to be very exciting as it continues to define the extent of the mineralization via aggressive drilling.
More recently, Summa closed a private placement, raising $11.5 million. Both Eric Sprott and First Majestic Silver subscribed to the offering as lead subscribers, showing there is a lot of confidence backing the company.
$SSVR.v is currently trading at $1.25, on a slight dip from a recent 45% bullish run. Prices appear to have bounced from support at $.19 yesterday, however, I am watching for a possible retest before prices continue to climb. $SSVR.v is currently valued at $96.04 million.
https://www.marketscreener.com/quote/stock/SUMMA-SILVER-CORP-117540535/news/Summa-Silver-Announces-Closing-Of-11-5-Million-Private-Placement-led-by-Investments-from-Eric-Spro-37864239/