Western Sierra Resource Corp (OTCMKTS: WSRC) skyrocketed more than 800% on Tuesday after the company announced that it inked a deal to acquire 70% of Silver State Mining Group, Inc.’s common stock. WSRC exited for $0.25, inching closer to its 52-week high of $0.26. 447.34K shares trade on the OTC market for this symbol, on average.
So what now?
Silver State Mining Group has around 49% of Sage Hen Mining claims based in Nevada, totaling 640 acres. These claims are situated next to Relief Canyon Mine at Oreana Tend. Apart from the critical metals like gold and silver, recovery system assays also indicate platinum, rhodium, and palladium.
What lies ahead?
In the future, the SSMG and WSRC partnership aims at constructing a 100 ton/day plan, which will later be enhanced to 1,100 tons/day. The company is projecting that the annual income from 100 tons/day shall be $269 million. Meanwhile, the net annual income from operating 1,100 ton/day is estimated to be $3.2 billion in a year. While no further updates have been provided, the company might detail out to progress in the times ahead.
About the Western Sierra Resource Corp
The company is based out of Utah and was founded in 1907. It has remained a silver and gold corporation since time immemorial. Till this time, the company owns precious metal reserves in the state of Arizona.
In 2014, this company had extended the vision also to include renewable and natural resources. It had acquired water rights and related infrastructure in Colorado to cultivate and irrigate industrial hemp. The company aims at producing hemp for the manufacturing of different building products, apart from various other benefits.
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