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The latest update is out from Abacus Mining & Exploration ( (TSE:AME) ).
Abacus Mining & Exploration has again increased the size of its non-brokered private placement, now targeting up to 14,850,000 units for gross proceeds of as much as $371,250, with each unit comprising one common share and half a warrant exercisable at $0.05 for three years. The financing, to be used for general working capital, is being conducted under prospectus exemptions including one for existing shareholders, may involve insider participation treated under related-party rules, and remains subject to TSX Venture Exchange approval, with any oversubscription allocated pro rata among qualifying investors and all securities subject to a four‑month hold period, underlining the company’s effort to shore up liquidity as it advances its copper-gold and copper-molybdenum assets in Canada and the U.S.
The most recent analyst rating on (TSE:AME) stock is a Sell with a C$0.02 price target. To see the full list of analyst forecasts on Abacus Mining & Exploration stock, see the TSE:AME Stock Forecast page.
Spark’s Take on TSE:AME Stock
According to Spark, TipRanks’ AI Analyst, TSE:AME is a Neutral.
The score is driven primarily by weak financial performance (no revenue, persistent losses, negative equity, rising debt, and ongoing cash burn). Technical signals also lean bearish (negative MACD, RSI below 40, and price below the 20-day average). The small private placement is a modest positive for liquidity, but valuation support is limited due to a negative P/E and no dividend.
To see Spark’s full report on TSE:AME stock, click here.
More about Abacus Mining & Exploration
Abacus Mining & Exploration Corporation is a Vancouver-based mineral exploration and mine development company focused on copper and gold projects in British Columbia and Nevada. Its principal asset is a 20% interest in the proposed Ajax copper-gold mine near Kamloops, B.C., alongside majority partner KGHM Polska Miedź S.A., and it also holds a 100% interest in the Willow copper-molybdenum property and a lease on the adjacent Nev-Lorraine claims near Yerington, Nevada.
Average Trading Volume: 134,281
Technical Sentiment Signal: Sell
Current Market Cap: C$4.32M
For an in-depth examination of AME stock, go to TipRanks’ Overview page.