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An update from Desert Gold Ventures ( (TSE:DAU) ) is now available.
Desert Gold Ventures has closed a fully subscribed non-brokered private placement, raising C$7.18 million through the issuance of 89.77 million units at C$0.08, each unit comprising one share and half a warrant exercisable at C$0.12 for 24 months. The financing, conditionally approved by the TSX Venture Exchange and completed under Canada’s listed issuer financing exemption, is intended to fund commissioning of the first phase of a gravity plant at the Barani East gold oxide project in Mali, as well as resource expansion and exploration drilling at its SMSZ Project in Mali and Tiegba Project in Côte d’Ivoire, alongside general working capital.
The most recent analyst rating on (TSE:DAU) stock is a Hold with a C$0.08 price target. To see the full list of analyst forecasts on Desert Gold Ventures stock, see the TSE:DAU Stock Forecast page.
Spark’s Take on TSE:DAU Stock
According to Spark, TipRanks’ AI Analyst, TSE:DAU is a Neutral.
The score is held down primarily by weak financial performance (no revenue, ongoing losses, and negative/accelerating free cash flow with a shrinking equity cushion). Offsetting factors include supportive technical trends (price above major moving averages with positive MACD) and a meaningful positive corporate update (enhanced PEA with improved projected project economics). Valuation remains a headwind given the negative P/E and lack of dividend yield.
To see Spark’s full report on TSE:DAU stock, click here.
More about Desert Gold Ventures
Desert Gold Ventures Inc. is a gold exploration and development company with core assets in Mali and Côte d’Ivoire. Its portfolio includes the 440 km2 SMSZ Project in Western Mali and the 297 km2 Tiegba Gold Project in Western Côte d’Ivoire, both situated within the prolific Birimian greenstone belt, a key West African gold-producing region.
Average Trading Volume: 293,457
Technical Sentiment Signal: Buy
Current Market Cap: C$21.64M
For an in-depth examination of DAU stock, go to TipRanks’ Overview page.