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VANCOUVER - Dolly Varden Silver Corporation (TSXV: DV) (NYSE: DVS) (FSE: DVQ), a precious metals exploration company with a market capitalization of $213.69 million, has announced its acquisition of the Porter Project from Strikepoint Gold Inc., consolidating its presence in British Columbia’s Golden Triangle. The transaction, expected to close in the second half of May, involves Dolly Varden issuing 295,699 common shares valued at $3.72 each to Strikepoint. According to InvestingPro data, the company maintains a strong financial position with more cash than debt on its balance sheet.
The Porter Project, historically the highest-grade, pure silver producer in northwest BC, spans approximately 3,192 hectares and includes 15 contiguous claims and 46 crown grants. It is known for its significant silver mineralization and historic production of direct-shipping silver ore. The Project’s exploration potential is underscored by the possibility of connecting the high-grade historic silver mines of Porter Idaho and Silverado, which are separated by 2,350 meters of untested ground. With a current ratio of 7.86, InvestingPro analysis shows Dolly Varden’s liquid assets significantly exceed its short-term obligations, providing financial flexibility for exploration activities.
Located four kilometers from the town of Stewart and near Ascot Resources’ Premier mine and mill, the Porter Project’s strategic position is further enhanced by its proximity to Dolly Varden’s Kitsault Valley Project, approximately 35 kilometers away. The Project’s historical mineral resource estimate includes 394,700 tonnes grading 868 g/t silver in the indicated category and 88,900 tonnes grading 595 g/t silver in the inferred category.
The acquisition remains subject to approvals from TSXV and NYSE America, among other customary conditions. Dolly Varden has committed to undertaking all necessary actions to complete the acquisition, including the issuance of the consideration shares.
Shawn Khunkhun, President and CEO of Dolly Varden, highlighted the accretive nature of the Project to the company’s mineral tenure in the region. The transaction does not involve any finder’s fees or commissions.
Dolly Varden Silver Corporation, focused on advancing the Kitsault Valley Project, is on a path to expand its high-grade silver and gold resources in the Golden Triangle. The region is known for hosting several high-grade deposits, such as Eskay Creek and Brucejack. While InvestingPro analysis suggests the stock is slightly overvalued at current levels, the company’s beta of 1.76 indicates higher potential returns with corresponding market volatility. Subscribers to InvestingPro can access 6 additional key insights about Dolly Varden’s financial health and growth prospects.
This news is based on a press release statement and readers should be aware that the acquisition is subject to customary closing conditions and approvals. The securities mentioned have not been registered under the U.S. Securities Act of 1933 and are subject to restrictions on their sale in the United States.
In other recent news, Dolly Varden Silver Corp has voluntarily filed an annual information form (AIF) for the fiscal year ending December 31, 2024. This filing was made with Canadian securities commissions and included as Exhibit 99.1 to the Form 6-K submitted to the U.S. Securities and Exchange Commission (SEC). The company had earlier filed its initial registration statement on Form 40-F with the SEC on April 8, 2025, which became effective on April 16, 2025. This registration statement included Dolly Varden Silver Corp’s audited annual financial statements and management’s discussion and analysis. The decision to file an AIF, although not mandated by Canadian law, highlights the company’s commitment to transparency and providing detailed information to investors. The AIF offers insights into the company’s operations, financial condition, and management’s analysis. This filing is considered significant for stakeholders and potential investors, as it gives a comprehensive overview of the company’s performance and strategic direction. The information provided is based on the company’s statements in the SEC filing.
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