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