Big Winners: 10 Stocks Refusing to take a Holiday

4. Vizsla Silver Corp. (NYSEAmerican:VZLA)

Vizsla soared by 10.24 percent week-on-week as investors loaded portfolios in mining firms following silver’s surge to a new record high.

On Friday alone, spot prices of silver were up by 10.30 percent to hit a fresh high of $79.27, as investor funds shifted to safer assets, supported by President Donald Trump’s announcement that the next central bank chairman should cut interest rates when markets are doing well.

This year alone, the Federal Reserve has already lowered interest rates thrice and traders are expecting two more cuts in the next open market committee meetings.

Vizsla Silver Corp. (NYSEAmerican:VZLA), alongside its mining peers, stands to benefit from lower rates as they tend to weaken the US dollar, making it much cheaper for foreign investors to buy silver and gold.

In other news, Vizsla Silver Corp. (NYSEAmerican:VZLA) said that it is set to acquire a 2,378-hectare land with mineralization potential from Minera Fresnillo SA de CV, a subsidiary of Fresnillo PLC.

The land sits on the Panuco-San Dimas corridor, with 1,734 hectares of the area believed to cover prospective areas or extensions to veins with known mineralization.

Vizsla Silver Corp. (NYSEAmerican:VZLA) said that the acquisition will be funded through a combination of $2 million in cash and the issuance of $4 million worth of shares.