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Abacus Mining & Exploration ( (TSE:AME) ) has issued an announcement.
Abacus Mining & Exploration has closed a non-brokered private placement, raising gross proceeds of $371,250 through the issuance of 14,850,000 units priced at $0.025 each, with each unit comprising one common share and half a warrant exercisable at $0.05 until January 19, 2029. The financing, offered mainly to existing shareholders under available prospectus exemptions and including participation by company insiders, is subject to a four-month hold period and final TSX Venture Exchange acceptance, with proceeds earmarked for general working capital, underscoring the company’s continued effort to fund its copper-focused portfolio while managing related-party transactions within applicable securities regulations.
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 is a 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 owns the Willow copper-molybdenum property and controls the adjacent Nev-Lorraine copper-molybdenum claims near Yerington, Nevada.
Average Trading Volume: 126,767
Technical Sentiment Signal: Sell
Current Market Cap: C$4.32M
Find detailed analytics on AME stock on TipRanks’ Stock Analysis page.