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The latest update is out from Spearmint Resources Inc ( (TSE:ADDY) ).
Adelayde Exploration Inc. has closed the final tranche of its non-brokered private placement, issuing 100,000 non-flow-through units at $0.10 each for $10,000, bringing total funds raised across both tranches to approximately $2.03 million and resulting in 17,848,078 shares being issued. The company plans to deploy the flow-through portion of $1,049,500.14 on its Canadian properties and use the $977,500 in non-flow-through proceeds for general working capital, positioning it to execute an active 2026 work program and marketing plan while modestly diluting existing shareholders through the new equity and attached warrants.
Spark’s Take on TSE:ADDY Stock
According to Spark, TipRanks’ AI Analyst, TSE:ADDY is a Underperform.
Spearmint Resources Inc. faces significant financial performance challenges, marked by zero revenue and persistent losses. Despite a strong equity position with no debt, declining assets and negative cash flow highlight potential liquidity issues. Technical indicators show stagnant momentum with neutral RSI and overbought Stochastic. Valuation is unattractive due to a negative P/E ratio and no dividend yield. However, the recent acquisition in the tungsten sector is a strategic positive, providing some potential for future growth.
To see Spark’s full report on TSE:ADDY stock, click here.
More about Spearmint Resources Inc
Adelayde Exploration Inc. is a Canadian mineral exploration company listed on the Canadian Securities Exchange and focused on advancing its existing properties in Canada. The company raises capital through a mix of flow-through and non-flow-through financings commonly used in the junior mining sector to fund exploration activities and maintain general working capital.
Average Trading Volume: 79,656
Technical Sentiment Signal: Strong Sell
Current Market Cap: C$2.45M
Learn more about ADDY stock on TipRanks’ Stock Analysis page.