Bill Cara

Cara Community GSM 50: Aftermath Silver

Aftermath Silver (TSX,V: AAG) (OTC: AAGFF) reviewed 10-03-2020

Market Cap: 76 Million   (USD)

Share Price: 0.61 (USD)

Shares outstanding: 126,000,000 as of 1 Oct 2020

Working capital: $2.6 M (USD) as of 31 May 2020

Long-term Debt: None

Credit: $12 M (USD) pending

Current operations:  No

Insiders: 21.7%

Institutional: Low

Website: aftermathsilver.com

President, Director & CEO: Ralph Rushton

Aftermath Silver is a developer, with two projects in Chile (Challacollo, Cachinal) & one in Peru (Berenguela). The Berenguela silver-copper project was purchased from SSR Mining for $13M in cash plus $3M in Aftermath shares, and a 1.5% net smelter royalty (NSR)

Cachinal is 80% owned with the remaining 20% owned by SSRM

The three projects represent ~175 M oz Ag at around ~120 g/ton

Berenguela is 130 M oz at 110 g/ton

Challacollo is 30 M oz at 150 g/ton

Cachninal is 15-20 M oz at 100 g/ton

Potential for 7 M oz per year production

Eric Sprott owns 20% of shares at 14 Sept 2020 via Non-brokered private placement of 26+ Million shares for ~ $17,135,000

Bottom line:

  • Speculative. Production is over 5 years out
  • Sub-par website
  • No position