This week we saw the Silver Elephant Mining Corp. (TSE:ELEF) share price climb by 16%. While a drop like that is definitely a body blow, money isn’t as important as health and happiness.
Although the past week has been more reassuring for shareholders, they’re still in the red over the last five years, so let’s see if the underlying business has been responsible for the decline.
See our latest analysis for Silver Elephant Mining
With zero revenue generated over twelve months, we don’t think that Silver Elephant Mining has proved its business plan yet. This state of affairs suggests that venture capitalists won’t provide funds on attractive terms. So it seems that the investors focused more on what could be, than paying attention to the current revenues (or lack thereof). It seems likely some shareholders believe that Silver Elephant Mining will discover or develop fossil fuel before too long.
We think companies…
