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An update from Barksdale Capital ( (TSE:BRO) ) is now available.
Barksdale Resources is seeking TSX Venture Exchange approval to amend the terms of secured convertible debentures and associated warrants held by Delbrook Capital Advisors, extending all existing debentures and related warrants by one year to December 31, 2028. The amendments include reducing the conversion and exercise prices on the C$1.5 million debentures and 8 million related warrants from C$0.12 to C$0.10 per share, extending the maturity of an additional C$3 million in debentures and 7.5 million warrants, and issuing 7 million new warrants exercisable at C$0.09 per share as consideration to Delbrook. Subject to TSXV acceptance and standard hold periods, the move effectively locks in continued access to Delbrook’s capital on more favourable conversion terms, while potentially increasing future equity dilution for shareholders as Barksdale finances the advancement of its copper-focused projects in Arizona and Mexico.
The most recent analyst rating on (TSE:BRO) stock is a Hold with a C$0.08 price target. To see the full list of analyst forecasts on Barksdale Capital stock, see the TSE:BRO Stock Forecast page.
Spark’s Take on TSE:BRO Stock
According to Spark, TipRanks’ AI Analyst, TSE:BRO is a Neutral.
The score is held down primarily by weak financial performance (pre-revenue losses and ongoing cash burn), partially offset by a modestly levered balance sheet. Technicals are moderately supportive in the near term, while valuation is constrained by negative earnings. A positive corporate update on assay results provides some upside, but execution/timing risk remains.
To see Spark’s full report on TSE:BRO stock, click here.
More about Barksdale Capital
Barksdale Resources Corp. is a Vancouver-based base metals exploration company focused on acquiring, exploring and advancing highly prospective copper, zinc, lead, silver and gold projects in North America. The company is currently advancing the Sunnyside copper-zinc-lead-silver and San Antonio copper projects in Arizona’s Patagonia mining district, as well as the San Javier copper-gold project in Sonora, Mexico.
Average Trading Volume: 141,358
Technical Sentiment Signal: Sell
Current Market Cap: C$13.26M
Find detailed analytics on BRO stock on TipRanks’ Stock Analysis page.