"With the gold price up 26% and silver up 29% YTD (silver was 52% of revenue in this quarter), Sierra Madre Gold and Silver Ltd. (SM:TSX.V; SMDRF:OTCQX) is well-positioned for a major rerating in the precious metals sector," a VSA Capital research note reported.
Given the miner's recent achievements at the project and adequate funding, VSA Capital believes the plan is doable, it wrote in a report.
The gold-silver explorer-developer aims to launch test production in H2/24, noted a VSA Capital report.