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Revenue from Super Champ Expected in Early 2025

Silver Bullet Mines Corp. (OTCQB:SBMCF)

TORONTO, ONTARIO, CANADA, December 31, 2024 /EINPresswire.com/ -- eResearch Corp, a leading independent equity research firm, has published a 10-page Update Report on Silver Bullet Mines Corp. (“SBMI” or “the Company”) (TSXV: SBMI | OTC: SBMCF). The report provides a detailed analysis of SBMI’s recent developments, operational progress, and financial activities.

SBMI is a Canadian-based silver, gold, and copper exploration and development company. Its main assets are the Black Diamond (“BD”) property, including the past-producing Buckeye Silver and McMorris Mine, and Super Champ project near Globe, Arizona, and the Washington Mine in Idaho.

The company commenced production at the Buckeye Mine in mid-2022, but mining operations are currently paused pending the resolution of safety issues. While awaiting the restart of mining at Buckeye, the company plans to generate revenue by processing third-party mineralized material from Super Champ at its 125-ton-per-day mill in Globe, Arizona.

The update report examines SBMI’s ongoing efforts to advance its high-grade silver and gold projects, with a focus on its Super Champ property in Arizona and the Washington Mine in Idaho. The report also highlights the Company’s strategic financing initiatives and operational improvements, which aim to support revenue generation and long-term growth.

On December 23, SBMI announced a private placement aiming to raise $1.5 million, with $500,000 committed as a lead order. The financing includes up to 12.5 million units at $0.12 per unit, each comprising one common share and one warrant exercisable at $0.16 for 36 months. Proceeds would support work at Super Champ and the Washington Mine.

SBMI continues shipping mineralized material from Super Champ to its mill for stockpiling and processing. Recent assay results from the property, including a head grade of 28.0 oz/ton silver and a concentrate grade of 339.6 oz/ton, demonstrate the potential for high-grade production. Revenue generation from Super Champ material is expected to begin in early 2025.

On November 22, SBMI announced that it began underground development and bulk sampling at the Washington Mine, contracting a miner experienced with high-grade vein operations. It is targeting the high-grade “Target Zone.” Planned activities include the excavation of an 80-foot adit and bulk sampling of at least 2,000 tons of material.

eResearch maintains a Speculative Buy Rating for SBMI, with a one-year price target of $0.20 and a two-year price target of $0.32. The valuation is based on assumptions of processing third-party material at Super Champ in the first year and higher-grade material from the Buckeye Mine in the second year.

Christopher P Thompson, CFA, MBA, P.Eng., lead analyst for the report, commented: “SBMI’s progress at Super Champ and the Washington Mine highlights its focus on leveraging high-grade assets to drive near-term revenue. While challenges remain, including the restart of the Buckeye Mine, the Company’s strategic financing and operational improvements position it for potential growth.”

SBMI reports are available for free viewing and download on eResearch's website at www.ersearch.com.

For media inquiries or more information, please contact eResearch on our Contact Us webpage at www.eresearch.com/contact-us/.

Christopher P. Thompson
eResearch Corp.
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