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An update from Chesapeake Gold ( (TSE:CKG) ) is now available.
Chesapeake Gold has upsized its previously announced bought-deal public equity offering from roughly $10 million to about $15 million, with underwriters led by Red Cloud Securities agreeing to purchase 3,571,500 units at $4.20 per unit, each comprising one common share and half a warrant exercisable at $5.65 for three years. The company will also conduct a concurrent non-brokered private placement of up to 685,000 similarly structured units for additional proceeds of up to approximately $2.9 million, with prominent investor Eric Sprott participating to maintain his pro rata stake; together, the financings are expected to provide capital to advance Chesapeake’s proprietary oxidative leach technology, progress the Metates and Lucy projects, and bolster working capital, potentially strengthening its development pipeline and financial position in the precious metals sector.
The most recent analyst rating on (TSE:CKG) stock is a Hold with a C$4.50 price target. To see the full list of analyst forecasts on Chesapeake Gold stock, see the TSE:CKG Stock Forecast page.
Spark’s Take on TSE:CKG Stock
According to Spark, TipRanks’ AI Analyst, TSE:CKG is a Neutral.
The score is held back primarily by weak financial performance (no revenue, ongoing losses, and persistent cash burn), partly offset by a strong, debt-light balance sheet. Technically, the trend is bullish with strong momentum, but indicators are extended, raising pullback risk. Valuation is constrained by negative earnings and no dividend support, while recent corporate actions modestly improve strategic positioning.
To see Spark’s full report on TSE:CKG stock, click here.
More about Chesapeake Gold
Chesapeake Gold Corp. is a Vancouver-based mineral exploration and development company listed on the TSX Venture Exchange, focused on advancing its flagship Metates gold-silver project and related assets, including the Lucy project, and developing proprietary oxidative leach technology aimed at improving the economics of large-scale precious metals deposits.
Average Trading Volume: 88,173
Technical Sentiment Signal: Buy
Current Market Cap: C$303.8M
Learn more about CKG stock on TipRanks’ Stock Analysis page.