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The latest announcement is out from C3 Metals ( (TSE:CCCM) ).
C3 Metals Inc. has arranged a $20 million bought-deal private placement, selling 18,182,000 common shares at $1.10 each through a syndicate of underwriters led by Paradigm Capital, with an option to raise up to an additional $3 million by issuing 2,728,000 more shares at the same price. The financing, which is subject to regulatory and stock exchange approvals and is expected to close in mid-February, will fund exploration and development at the company’s 100%-owned Khaleesi copper-gold project and 50%-owned Super Block project, as well as general working capital, supporting its broader strategy to advance sizeable copper-gold assets in Peru and Jamaica; insider participation could classify the deal as a related-party transaction, though the company plans to rely on available exemptions under Canadian securities rules.
The most recent analyst rating on (TSE:CCCM) stock is a Hold with a C$1.00 price target. To see the full list of analyst forecasts on C3 Metals stock, see the TSE:CCCM Stock Forecast page.
Spark’s Take on TSE:CCCM Stock
According to Spark, TipRanks’ AI Analyst, TSE:CCCM is a Neutral.
The score is held down primarily by weak financial performance (ongoing losses and consistent negative free cash flow), with only partial offset from a debt-free, better-capitalized balance sheet. Technicals are neutral-to-soft, valuation support is limited due to negative earnings and no dividend, while recent positive exploration events provide a modest uplift.
To see Spark’s full report on TSE:CCCM stock, click here.
More about C3 Metals
C3 Metals Inc. is a mineral exploration company focused on discovering and developing large copper and gold deposits. Its core assets include approximately 31,000 hectares in Peru’s high-grade Andahuaylas-Yauri porphyry-skarn belt, hosting the Jasperoide and Khaleesi projects, and a portfolio of exploration licences in Jamaica with multiple porphyry, epithermal and volcanic redbed copper prospects. At Jasperoide, the company has already defined a maiden resource of 52 million tonnes grading 0.5% copper and 0.2 g/t gold, positioning it among significant regional operations.
Average Trading Volume: 53,475
Technical Sentiment Signal: Buy
Current Market Cap: C$128.9M
For an in-depth examination of CCCM stock, go to TipRanks’ Overview page.