VANCOUVER, British Columbia - Vizsla Silver Corp. reported a contractor fatality at its Panuco project, according to a regulatory filing with the U.S. Securities and Exchange Commission (SEC). The incident occurred at the company's silver mining operations, as disclosed in a Form 6-K submitted on January 10, 2025. The company, currently valued at $577 million, has seen its stock rise nearly 17% in the past week despite this development.
The Vancouver-based mining company, which specializes in gold and silver ores, announced the unfortunate event in a news release included as Exhibit 99.1 in the filing. Details surrounding the circumstances of the fatality were not provided in the disclosure. According to InvestingPro, the company maintains strong financial health with exceptional liquidity metrics, including a current ratio of 70.12.
Vizsla Silver, operating under the organization name 01 Energy & Transportation, is incorporated in A1 and has its fiscal year end on April 30. The company, previously known as Vizsla Resources Corp., changed its name on December 5, 2019.
The SEC filing, a requirement for foreign private issuers under the Securities Exchange Act of 1934, was signed by Michael Konnert, Chief Executive Officer of Vizsla Silver Corp. The company's business address is listed as Suite 1723, 595 Burrard Street, Vancouver, with a mailing address at PO Box 49193, 595 Burrard Street, Vancouver.
Vizsla Silver Corp. files its annual reports under Form 40-F, as indicated by a checkmark in the filing. The Form 6-K serves as a report for the month of January 2025.
The company has not provided further information on how the incident will affect operations at the Panuco project or any measures being taken following the event. The press release statement serves as the source of the facts reported.
Investors and stakeholders in the mining sector often monitor such events closely, as they can have implications for company operations and industry safety standards. Vizsla Silver Corp. trades under the ticker symbol on the exchange where it is listed.
In other recent news, Vizsla Silver Corp. has reported a significant 43% increase in the measured and indicated mineral resources at its Panuco project, a key asset in the company's portfolio. This boost in resource estimates is a notable enhancement in the project's potential. In addition, the company has initiated test mining and a bulk sample program at the Panuco project, a significant step in the company's development.
Vizsla Silver also gained final approval to list its shares on the Toronto Stock Exchange, a strategic move expected to broaden its investor base and increase access to capital markets. Furthermore, the company relocated its principal executive offices to Vancouver, marking a new phase in its journey.
These recent developments reflect continuous growth in Vizsla Silver Corp.'s operations. Notably, H.C. Wainwright has maintained a Buy rating for Vizsla Silver shares in response to these advancements. These are recent developments, providing investors with a snapshot of Vizsla Silver's latest activities.
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