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CMX Gold & Silver ( (TSE:CXC) ) has issued an announcement.
CMX Gold & Silver Corp. has successfully closed a non-brokered private placement of $72,500 in secured convertible debentures, which will be used to settle existing debt. The debentures, due in 2027, carry an interest rate of 10% per annum and are convertible into common shares at $0.125 per share. This transaction involves a related party and is exempt from certain regulatory requirements due to its size relative to the company’s market capitalization. The move is part of CMX’s broader strategy to strengthen its financial position and support ongoing exploration efforts at its Clayton Silver Property.
Spark’s Take on TSE:CXC Stock
According to Spark, TipRanks’ AI Analyst, TSE:CXC is a Underperform.
CMX Gold & Silver’s overall stock score is significantly impacted by its poor financial performance, marked by persistent revenue and profitability issues. Technical indicators suggest bearish momentum, and the negative P/E ratio highlights valuation concerns. The absence of dividends further detracts from the stock’s appeal.
To see Spark’s full report on TSE:CXC stock, click here.
More about CMX Gold & Silver
CMX Gold & Silver Corp. is a mining company that owns the Clayton Silver Property in Idaho, USA. The property includes patented and unpatented claims across approximately 1,028 acres, featuring the former Clayton silver-lead-zinc mine. CMX is focused on assessing and expanding the resource potential of this property through detailed geophysical work and multiple drill programs.
Average Trading Volume: 34,783
Technical Sentiment Signal: Strong Buy
Learn more about CXC stock on TipRanks’ Stock Analysis page.