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Silver Elephant Mining Corp. (SILEF) is a Toronto Stock Exchange-listed Canadian company primarily focusing on mining projects in Mongolia, Bolivia, and Canada. The company's flagship Pulacayo-Paca project in Bolivia has been producing since October 2023. Recently, Silver Elephant has achieved record-breaking monthly mining of Paca oxide materials at high silver grades, trucked to Andean Precious Metals Corp. The company has been expanding its Bolivian activities, becoming a significant employer in the region. With plans to advance towards Paca's phase 2 sulphide production, Silver Elephant is poised for further growth and revenue streams.
Silver Elephant Mining reports mining 24,153 wet tonnes of silver oxide materials averaging 197 g/t silver from its Paca project in November 2024. Since operations began in October 2023, the company has mined and shipped 261,530 wet tonnes grading 183 g/t silver, totaling 1,440,219 oz of silver.
The company plans to sell up to 800,000 tonnes of Paca oxide materials to Andean Precious Metals for US$5-7 million. At current rates, Silver Elephant expects to receive US$2.5 million before January 31, 2025. The Paca project contains indicated oxide resources of 800,000 tonnes at 231 g/t silver and indicated sulfide resources of 1,810,000 tonnes at 256 g/t silver.
Silver Elephant Mining achieved a record production of 31,693 tonnes of oxide materials in October 2024, with an average grade of 184 g/t silver from its Paca project. Since operations began in October 2023, the company has mined and shipped 237,377 tonnes of silver-bearing oxide materials grading 181 g/t silver, totaling 1,300,144 oz of silver. The company plans to sell up to 800,000 tonnes of Paca oxide materials to Andean Precious Metals for US$5-7 million, expecting to receive US$2.5 million before January 2025 while remaining debt-free. Additionally, Silver Elephant initiated tunnel development for the Paca sulfide project in August 2024, with revenue anticipated by year-end.
Silver Elephant Mining has completed the second and final tranche of its non-brokered private placement, raising $291,550 through the sale of 595,000 units at $0.49 per unit. Each unit includes one common share and one warrant, allowing purchase of an additional share at $0.55 for three years. CEO John Lee subscribed for 500,000 units ($245,000). The securities have a four-month plus one-day regulatory hold period. No finder's fees were paid for this tranche, and proceeds will be used for general corporate purposes.
Silver Elephant Mining Corp. (TSX: ELEF) (OTCQB: SILEF) has closed the first tranche of its non-brokered private placement, raising gross proceeds of $198,450. The company sold 405,000 units at a price of $0.49 per unit. Each unit consists of one common share and one share purchase warrant, allowing the holder to purchase an additional share at $0.55 for three years from issuance.
The securities issued will be subject to a four-month plus one day regulatory hold period. Proceeds are expected to be used for general corporate purposes. Silver Elephant paid a finder's fee to Canaccord Genuity Corp. through the issuance of 4,900 units.
Silver Elephant Mining Corp. (TSX: ELEF) (OTCQB: SILEF) announces significant progress in its Paca project silver production. In September 2024, the company mined 28,879 tonnes of oxide materials with an average grade of 189 g/t silver. Since operations began in October 2023, Paca has produced 1,105,401 oz of silver from 205,682 tonnes of silver-bearing oxide materials.
The company plans to sell up to 800,000 tonnes of Paca oxide materials to Andean Precious Metals Corp. for US$5-7 million, expecting to receive US$2.5 million before January 31, 2025. Silver Elephant has also started tunnel development for Paca sulfide operations, with revenue expected by the end of 2024.
The Paca project hosts a high-grade silver resource, with indicated oxide resources of 5.9 Moz silver and indicated sulfide resources of 14.9 Moz silver, according to a 2020 technical report.
Silver Elephant Mining Corp. (TSX: ELEF) (OTCQB: SILEF) announces a non-brokered private placement to raise $490,000 through the sale of 1,000,000 units at $0.49 per unit. Each unit includes one common share and one warrant, with warrants exercisable at $0.55 for three years. CEO John Lee will subscribe for 500,000 units ($245,000). Proceeds will be used for general corporate purposes.
The company also appoints Alex Bayer as Chief Legal Officer, effective October 2, 2024. Bayer, a corporate securities lawyer with over 15 years of experience in the mining sector, will lead all legal matters for Silver Elephant. Additionally, Sara Knappe is appointed as Corporate Secretary, replacing Marion McGrath.
Silver Elephant Mining Corp. (TSX: ELEF) (OTCQB: SILEF) (FSE: 1P2) has announced that all resolutions proposed at its Annual General & Special Meeting on September 25, 2024, were approved by shareholders. The meeting results include:
- Setting the number of directors at four
- Election of John Lee, Greg Hall, Douglas Flett, and Nigel Lees as Directors
- Appointment of Mao & Ying LLP as auditors
- Re-approval of the Company's 2021 Stock Option Plan
Detailed voting results for director elections show strong support, with all nominees receiving over 95% of votes in favor. The full Report of Voting Results is available on www.sedarplus.ca.
Silver Elephant Mining Corp. (TSX: ELEF) (OTCQB: SILEF) reports mining 22,669 tonnes of silver-bearing oxide materials at its Paca Silver Project in August 2024, averaging 193 g/t silver. The company has mined and shipped 176,803 tonnes grading 180 g/t silver since October 2023, totaling 965,531 oz of silver. Silver Elephant initiated a phase one sulphide operation in August, expecting revenue generation by year-end 2024.
Under agreements with Andean Precious Metals Corp., Silver Elephant plans to sell up to 800,000 tonnes of Paca oxide materials for US$5-7 million, depending on silver prices. At current rates, the company expects to receive US$2.5 million before January 31, 2025. The Paca project hosts a high-grade silver resource, with indicated oxide resources of 800,000 tonnes at 231 g/t silver and indicated sulfide resources of 1,810,000 tonnes at 256 g/t silver.
Silver Elephant Mining Corp. (TSX: ELEF) (OTCQB: SILEF) announced drill results from its Paca deposit in Bolivia. Notable findings include:
- PC24-27: 17.45 meters of 120 g/t silver from surface
- PC24-25: 13.72 meters of 118 g/t silver from surface
- PC24-28: 2.95 meters of 38.9 g/t silver (250m northwest step-out)
The company plans to start a 367-meter tunnel development at Paca in September 2024 and deliver the first sulphide concentrate sale before year-end. Silver Elephant expects to receive US$2.5 million from Andean Precious Metals by January 31, 2025, as part of an agreement to sell up to 800,000 tonnes of Paca oxide materials.
Silver Elephant Mining Corp. (OTCQB: SILEF) has completed the second and final tranche of its non-brokered private placement, raising $78,362 through the issuance of 163,254 units at $0.48 per unit. Each unit includes one common share and one warrant, allowing the purchase of an additional common share at $0.70 for three years. The proceeds will fund phase one sulphide operations at the Paca silver project in Bolivia and general corporate purposes. CEO John Lee subscribed for 75,754 units, contributing $36,362. No finder's fees were paid, and the securities are subject to a hold period until December 14, 2024.
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