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Investing.com - BMO Capital raised its price target on Vizsla Silver Corp. (NYSE:VZLA) to $6.00 from $5.00 on Monday, while maintaining an Outperform rating on the stock. The mining company, currently trading at $3.72 with a market capitalization of $1.29 billion, has seen its shares surge 117% year-to-date.
The price target increase follows Vizsla’s execution of a mandate letter for a senior secured project finance facility of up to $220 million to develop its Panuco project. According to InvestingPro data, the company maintains robust liquidity with a current ratio of 34.06.
The mining company currently has approximately $200 million on its balance sheet following an equity financing completed in June, positioning it to fully fund the $224 million capital expenditure estimated in the Panuco Preliminary Economic Assessment. InvestingPro analysis reveals the company holds more cash than debt, with 12 additional key insights available to subscribers.
Vizsla continues to advance the Panuco project with ongoing test mine development and expects to complete a feasibility study by the end of 2025.
The company anticipates making a construction decision by mid-2026, with first production targeted for the end of 2027.
In other recent news, Vizsla Silver Corp. announced preliminary results from a newly completed geophysical survey at its Panuco silver-gold district in western Mexico. The survey revealed several new near-surface anomalies along the Copala and Napoleon vein corridors. The company has completed over 390,000 meters of diamond drilling since the initial discovery at Napoleon and is now focusing on identifying additional mineralized centers across the district. This exploration program aims to enhance the company’s "Project #1" and locate potential new high-grade zones.
Additionally, BMO Capital has raised its price target for Vizsla Silver to C$5.00 from C$4.50, while maintaining an Outperform rating on the stock. This decision follows Vizsla Silver’s recent completion of a US$100 million equity financing, which increased its total cash position to approximately US$200 million. These developments reflect the company’s strong financial standing and continued exploration efforts.
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