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The latest update is out from Century Lithium ( (TSE:LCE) ).
Century Lithium Corp. has successfully closed the first tranche of its financing under the Listed Issuer Financing Exemption, raising approximately $2.87 million through the issuance of 9,559,833 units. This financing move, involving related party transactions, is aimed at supporting the company’s operations and further development of its Angel Island project, which is significant for its potential impact on the lithium market and the electric vehicle industry.
The most recent analyst rating on (TSE:LCE) stock is a Buy with a C$1.50 price target. To see the full list of analyst forecasts on Century Lithium stock, see the TSE:LCE Stock Forecast page.
Spark’s Take on TSE:LCE Stock
According to Spark, TipRanks’ AI Analyst, TSE:LCE is a Underperform.
Century Lithium faces significant financial challenges with persistent losses and negative cash flows, heavily impacting its overall score. While technical indicators suggest some positive market trends, the lack of profitability and absence of dividends weigh down the valuation. Recent corporate developments show promise but do not significantly alter the financial outlook at this time.
To see Spark’s full report on TSE:LCE stock, click here.
More about Century Lithium
Century Lithium Corp. is an advanced stage lithium company focused on developing its wholly owned Angel Island project in Esmeralda County, Nevada. The project hosts one of the largest sedimentary lithium deposits in the United States. The company uses a patent-pending process for chloride leaching combined with direct lithium extraction to produce battery-grade lithium carbonate, catering to the growing electric vehicle and battery storage market.
Average Trading Volume: 102,415
Technical Sentiment Signal: Strong Sell
Current Market Cap: C$42.61M
See more insights into LCE stock on TipRanks’ Stock Analysis page.