Black Bear climbs higher spurred on by silver momentum

The company will begin trading on the US OTCQX market on December 16 under the ticker BKBMF as it strengthens exposure to critical minerals and silver investors.

This comes with BKB’s maiden drilling up and running at its Shafter project in Texas.

From 50.5c just after it acquired Shafter on November 21, the company has climbed to 83.5c, including a jump of 20.15% today, and its market cap is now about $118.2m. 

The project hosts a foreign silver resource estimate of 17.5Mt at 289g/t silver. It is also home to the historic Presidio mine which produced 35.2Moz averaging better than 500g/t.

Shafter lies on an extension of Mexico’s Eastern Sierra Madre Belt, which includes Newmont’s Peñasquito, the world’s fifth-largest silver mine.

The dual quotation expands Black Bear’s access to North American investors, supporting institutional engagement, US partnerships and potential future US exchange listings.

It’s perfect timing with silver closing in on a record US$64 per ounce and demand for the precious metal surging as a store of value and a critical industrial metal.

With North American exchanges like the TSX and NYSE hosting the majority of the world’s largest silver producers and developers, Black Bear is gaining prominence in a market that understands the silver investment proposition.

There have been further US tailwinds for the commodity, following the metal’s inclusion on the US Department of the Interior’s Critical Minerals List.

Black Bear Minerals CEO Dennis Lindgren said the US listing was “a pivotal moment that greatly expands our access to the world’s largest capital market for institutional engagement, potential US partnerships, and future U.S. exchange listings.”

“This dual quotation, in addition to our ASX listing, arrives as we launch our maiden drilling program at the high-grade Shafter Silver Project with 17.5 Moz at 289 g/t silver foreign MRE,” he added.

“This momentum, coupled with all-time high silver prices and new status on the US Critical Minerals List, underscores the exceptional value potential of our portfolio, including the high-grade Independence Gold Project in Nevada.”