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Abacus Mining & Exploration ( (TSE:AME) ) has issued an announcement.
Abacus Mining & Exploration has increased the size of its previously announced non-brokered private placement to 13,850,000 units at $0.025 per unit, for potential gross proceeds of up to $346,250, with each unit comprising one common share and half a warrant exercisable at $0.05 for three years. The financing, which is subject to TSX Venture Exchange approval and may involve insider participation and finders’ fees, is intended for general working capital and offers existing shareholders an opportunity to participate under prospectus exemptions, modestly bolstering Abacus’s balance sheet as it advances its copper and gold assets in British Columbia and Nevada.
The most recent analyst rating on (TSE:AME) stock is a Hold 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., held alongside majority partner KGHM Polska Miedź S.A., and it also owns 100% of the Willow copper-molybdenum property and leases the adjacent Nev-Lorraine claims near Yerington, Nevada.
Average Trading Volume: 135,674
Technical Sentiment Signal: Sell
Current Market Cap: C$3.45M
For a thorough assessment of AME stock, go to TipRanks’ Stock Analysis page.