Silver Horn Mining Ltd. (OTC: SILV) shares are up sharply in trading today. At last check, SILV shares were up 2.22% to $0.0920 on above average volume of 120,778. The stock fell 3.16% in the last three trading sessions.
Silver Horn Mining is engaged in the mining of mineral properties in the U.S. The company holds rights, title and interest in 36 unpatented lode-mining claims in Yavapai County, Arizona.
According to a 10Q filing made by SILV last month, the company did not generate any revenue for the three-month period ended March 31, 2012. Operating expenses for the three-month period were $3.90 million, up 2552%. The increase was due to payroll and stock-based compensation expenses, exploration costs, professional and consulting expenses, and general and administrative expenses.
SILV’s net loss for the quarter ended March 31, 2012 was $3.82 million.
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