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Sun Silver Limited is an exploration and development company with a focus on developing the Maverick Springs Property located in Nevada, a globally significant tier 1 jurisdiction silver gold asset with an Inferred Mineral Resource of 292,000,000oz AgEq at 72.4gt Ag. Sun Silver aims to develop the Maverick Springs silver project in Elko County, Nevada, and undertake early stage studies to assess the feasibility of silver paste and solar energy opportunities.
Solar energy capacity within the United States of America alone is forecast to increase by 125GW per year to 2030. The United States has set a target for solar energy to provide 30% of all electricity in the United States by 2030 and 45% by 2050. The estimated amount of silver required to achieve this target by 2050 represents as much as 98% of the current known global reserves. The Company is therefore excited about the potential future opportunities for its Maverick Springs Property if it can be successfully developed.
The purpose of the IPO is to raise up to $13,000,000 (before costs) to enable the Company to:
Solar energy capacity within the United States of America alone is forecast to increase by 125GW per year to 2030. The United States has set a target for solar energy to provide 30% of all electricity in the United States by 2030 and 45% by 2050. The estimated amount of silver required to achieve this target by 2050 represents as much as 98% of the current known global reserves. The Company is therefore excited about the potential future opportunities for its Maverick Springs Property if it can be successfully developed.
The purpose of the IPO is to raise up to $13,000,000 (before costs) to enable the Company to:
- exercise the Option and make payment of the cash component of the consideration under the Option Agreement;
- complete infill and resource expansion drilling at the Maverick Springs Project;
- expand on previously completed metallurgical test work and carry out new test work;
- commence mine and processing studies for Maverick Springs;
- commence early‐stage studies to assess the potential feasibility of silver paste and solar energy opportunities;
- progress United States of America (USA) Department of Energy (DOE), Department of Defence (DOD) and Inflation Reduction Act (IRA) grant applications;
- have sufficient working capital for additional marketing, exploration and future acquisitions; and
- pay for the costs of the Offer.
Sun Silver - Maverick Springs Nevada ASX
Sun Silver aims to further explore and develop the Maverick Springs silver project in Elko County, Nevada, which has an inferred mineral resource of 292,000,000 oz AgEq at 72.4gt Ag.