Bayhorse Silver Inc. (TSXV:BHS) surged 63 percent this week and looked to be one of the top stocks on the TSX Venture Exchange. The stock closed at $0.475 a share after the company announced that it had signed a letter of intent to purchase the Bayhorse Silver Mine located in Oregon, USA, from Bayhorse Mining LLC.
The transaction is expected to close by the end of September 2021, subject to the fulfilment of certain conditions, and would give Bayhorse Silver access to two patented mining claims. As part of the purchase agreement, Bayhorse Mining LLC has also agreed to transfer all sales and marketing agreements as well as all contracts and agreements related to the mine, and assume liabilities associated with the property.
The Bayhorse Silver Mine is reported to contain over two million ounces of silver with an estimated grade of up to 1,900 g/t silver. It has historically produced high-grade high quality silver from underground mining since the 1860s. The forecasted income from the mine is estimated to be between four and five million dollars annually, which will be a huge boost to Bayhorse Silver’s bottom line.
The news of the purchase of the Bayhorse Silver Mine sent the stock of Bayhorse Silver soaring this week, making it one of the top weekly stocks on the TSX Venture Exchange. The stock has also seen a recent runup in the last few months, making it one of the top performers of the year so far.
Investors in Bayhorse Silver will be hoping that the purchase will be successfully completed and that the mine will be up and running by the end of the year. If this happens, the company will be well positioned to benefit from the anticipated silver price boom. With the news of the purchase sending the stock surging 63 percent this week, it looks like Bayhorse Silver is set to be one of the top performers on the TSX Venture Exchange for some time to come.
Bayhorse Silver Inc. (TSXV:BHS) surged 63 percent this week and looked to be one of the top stocks on the TSX Venture Exchange. The stock closed at $0.475 a share after the company announced that it had signed a letter of intent to purchase the Bayhorse Silver Mine located in Oregon, USA, from Bayhorse Mining LLC.
The transaction is expected to close by the end of September 2021, subject to the fulfilment of certain conditions, and would give Bayhorse Silver access to two patented mining claims. As part of the purchase agreement, Bayhorse Mining LLC has also agreed to transfer all sales and marketing agreements as well as all contracts and agreements related to the mine, and assume liabilities associated with the property.
The Bayhorse Silver Mine is reported to contain over two million ounces of silver with an estimated grade of up to 1,900 g/t silver. It has historically produced high-grade high quality silver from underground mining since the 1860s. The forecasted income from the mine is estimated to be between four and five million dollars annually, which will be a huge boost to Bayhorse Silver’s bottom line.
The news of the purchase of the Bayhorse Silver Mine sent the stock of Bayhorse Silver soaring this week, making it one of the top weekly stocks on the TSX Venture Exchange. The stock has also seen a recent runup in the last few months, making it one of the top performers of the year so far.
Investors in Bayhorse Silver will be hoping that the purchase will be successfully completed and that the mine will be up and running by the end of the year. If this happens, the company will be well positioned to benefit from the anticipated silver price boom. With the news of the purchase sending the stock surging 63 percent this week, it looks like Bayhorse Silver is set to be one of the top performers on the TSX Venture Exchange for some time to come.
