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The latest announcement is out from Atha Energy Corp. ( (TSE:SASK) ).
ATHA Energy Corp. has upsized its previously announced private placement of unsecured convertible debentures with Queen’s Road Capital Investment Ltd. to US$25 million, or approximately C$34.5 million, following strong investor demand. The funding will primarily support exploration and development at the company’s flagship Angilak Uranium Project in Nunavut and general corporate purposes, with the debentures carrying a 12% annual interest rate over five years and a conversion price set at C$0.85 per share. The deal deepens ATHA’s relationship with a prominent resource-sector financier and includes an investor rights agreement, an option for QRC to purchase an additional US$25 million of debentures on similar terms over two years, and customary closing conditions, collectively enhancing ATHA’s financial flexibility for advancing its uranium assets while signaling institutional confidence in its growth strategy.
The most recent analyst rating on (TSE:SASK) stock is a Hold with a C$0.75 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 mineral exploration company with a portfolio of three 100%-owned post-discovery uranium projects, including the Angilak Uranium Project in Nunavut, CMB Discoveries in Labrador, and the GMZ high-grade uranium discovery in the Athabasca Basin. The company also controls more than seven million acres of prospective exploration land across leading uranium basins and holds a 10% carried interest in key Athabasca Basin exploration projects operated by NexGen Energy Ltd. and IsoEnergy Ltd., positioning it as a significant player in the uranium exploration sector.
Average Trading Volume: 852,773
Technical Sentiment Signal: Strong Buy
Current Market Cap: C$227.9M
For an in-depth examination of SASK stock, go to TipRanks’ Overview page.