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SilverCrest Metals is in "a robust financial position"

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(Kitco News) - SilverCrest Metals (TSX:SIL) closed a financing with SSR Mining, raising C$26.9 million at a price of C$7.50 per share.

Last week SilverCrest announced it closed its over-subscribed non-brokered private placement for C$101 million.

The company said it is in "a robust financial position" to advance the high-grade precious metal Las Chispas Project in Sonora, Mexico with a cash balance of C$234 million in its treasury.

The financing is a sharp reversal from mid-March when SilverCrest raised C$75 million in a bought-deal financing. The markets then went south and the banks used a "disaster out" clause to try to pull out of the deal.

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