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Atha Energy Corp. ( (TSE:SASK) ) just unveiled an announcement.
Atha Energy Corp. has entered into a binding term sheet with Queen’s Road Capital Investment Ltd. for a private placement of US$20 million in unsecured convertible debentures, with QRC also receiving a two-year option to purchase an additional US$20 million of debentures. The funding, structured as five-year debentures bearing 12% annual interest and convertible into Atha shares at C$0.85, will be used primarily to advance exploration and development at the company’s Angilak Uranium Project in Nunavut following five new uranium discoveries and strong drill intercepts in 2025. The investment by QRC, a specialist resource financier with a track record in high-profile uranium names such as NexGen Energy and IsoEnergy, strengthens Atha’s financial position, validates the geological potential of the Angikuni Basin, and could materially support the next phase of work at one of Canada’s more promising uranium exploration districts.
The most recent analyst rating on (TSE:SASK) stock is a Hold with a C$0.69 price target. To see the full list of analyst forecasts on Atha Energy Corp. stock, see the TSE:SASK Stock Forecast page.
Spark’s Take on TSE:SASK Stock
According to Spark, TipRanks’ AI Analyst, TSE:SASK is a Neutral.
The score is held back primarily by weak financial performance (no revenue, ongoing losses, and cash burn) despite a low-debt balance sheet. Technicals are broadly neutral with only mild positive momentum, while valuation is constrained by negative earnings and no stated dividend. Corporate developments are positive (exploration discoveries) but are not yet reflected in operating results.
To see Spark’s full report on TSE:SASK stock, click here.
More about Atha Energy Corp.
Atha Energy Corp. is a uranium exploration and development company listed on the TSX Venture Exchange, OTCQB and Frankfurt, focused on advancing its Angilak Uranium Project in the Angikuni Basin in Nunavut, Canada. The company is targeting multiple unconstrained uranium discoveries within the basin and positions itself as a high-upside explorer in Tier 1 jurisdictions, aiming to unlock significant new uranium resources outside Saskatchewan’s Athabasca Basin.
Average Trading Volume: 789,314
Technical Sentiment Signal: Strong Buy
Current Market Cap: C$212.7M
For a thorough assessment of SASK stock, go to TipRanks’ Stock Analysis page.