Vizsla (VZLA) Rockets 25.8% on Silver Boost

We recently published 10 Small Caps With Big Double-Digit Gains. Vizsla Silver Corp. (NYSEAmerican:VZLA) is one of the top performers of last week.

Vizsla climbed by 25.81 percent week-on-week, as investors took path from the higher prices of precious metals, with sentiment bolstered by renewed optimism for an interest rate cut.

The stock rallied alongside its silver mining counterparts after silver prices soared on Friday, alongside other precious metals, ahead of the Federal Reserve’s last market committee meeting for the year, where interest rates are expected to be cut by 25 basis points.

Lower rates stand to benefit precious metals such as silver and gold, as they tend to weaken the US dollar, making it much cheaper and more attractive to foreign investors, thus, higher sales for the producers.

Copyright: tomas1111 / 123RF Stock Photo

Vizsla Silver Corp. (NYSEAmerican:VZLA) is a Canada-based mineral exploration and development company headquartered in Vancouver, BC, and is focused on its flagship Panuco silver-gold project in Sinaloa, Mexico.

Earlier this month, Vizsla Silver Corp. (NYSEAmerican:VZLA) announced the successful raising of $300 million in fresh funds from the issuance of convertible senior notes due 2031. The notes have a yield rate of 5 percent and are convertible into shares or cash, or both.

Noteholders carrying $1,000 worth of notes would be able to convert their holdings into 171.3062 common shares, or equivalent to an initial conversion price of $5.84 apiece.

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Disclosure: None. This article is originally published at Insider Monkey.