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An update from Defense Metals ( (TSE:DEFN) ) is now available.
Defense Metals Corp. has entered into a shares-for-debt settlement agreement with Hatch Ltd. to settle $846,547.31 in outstanding payables through the issuance of common shares and warrants. This agreement not only strengthens their relationship with Hatch but also reflects confidence in the Wicheeda Rare Earth Element Project, as Hatch has shown willingness to accept equity. The transaction is subject to TSX Venture Exchange approval, and Defense Metals intends to engage Hatch for further engineering services as the project progresses.
Spark’s Take on TSE:DEFN Stock
According to Spark, TipRanks’ AI Analyst, TSE:DEFN is a Neutral.
Defense Metals faces substantial financial challenges with no revenue generation and ongoing losses, greatly affecting its overall score. The strong equity position and lack of debt are key positives, but negative cash flows remain a concern. Recent positive corporate events offer strategic advantages, but the unattractive valuation and neutral technical outlook further weigh down the score.
To see Spark’s full report on TSE:DEFN stock, click here.
More about Defense Metals
Defense Metals Corp. is focused on the development of its 100% owned Wicheeda Rare Earth Element (REE) property in British Columbia, Canada. The project is strategically located with access to infrastructure and has demonstrated robust economics through a Preliminary Feasibility Study.
Average Trading Volume: 204,229
Technical Sentiment Signal: Buy
Current Market Cap: C$67.75M
Find detailed analytics on DEFN stock on TipRanks’ Stock Analysis page.