An excerpt from the Silver Bull (TSX: SVB, OTCQB: SVBL) news release dated 12/10/20 9:00:07AM that is linked below:
President and CEO Tim Barry stated,
I have just returned from an "on the ground" due diligence trip to the Beskauga project in Kazakhstan and I was extremely impressed by the mineralization I saw in the drill core, and the extensive infrastructure that surrounds the project. Additional due diligence is currently underway on the Beskauga project, which if acceptable, will allow us to bring a second project into the Company. This would give shareholders exposure to silver and zinc on our Sierra Mojada project in Mexico, and copper and gold at the Beskauga project in Kazakhstan. It is well known that gold and silver prices have had big run-ups over the last six months; however, it is less appreciated that copper (US$2.60 in June 2020 to US$3.50 in December 2020) and zinc (US$0.92 in June 2020 to US$1.28 in December 2020) prices have been running up as well. By increasing the number of authorized shares now, we will be able to act in a timely manner when the need to raise equity capital arises or when the board believes it is in the best interests of the Company and its shareholders to take action, and to maximize the opportunities that both the Sierra Mojada and Beskauga projects present to shareholders.
As outlined in our news release on November 30, 2020, it is no small point that both of the leading independent proxy advisor firms Institutional Shareholder Services (ISS) and Glass Lewis & Co. agreed with Silver Bull's board of directors on the need for additional shares to enable the Company to raise additional capital for furthering the development of the Sierra Mojada project in Mexico and the Beskauga property in Kazakhstan. Additionally, Glass Lewis noted that "it would be in shareholders' best interest to provide the board with flexibility to obtain additional capital—including through participation in private placement transactions—going forward.
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