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The latest update is out from Elcora Advanced Materials ( (TSE:ERA) ).
Elcora Advanced Materials Corp. has closed the first tranche of a private placement, issuing 8,158,333 units at $0.12 per unit for gross proceeds of approximately $979,000, as part of a broader offering of up to 25,000,000 units to raise as much as $3 million. Each unit comprises one common share and one warrant exercisable at $0.16 for 24 months, with one company director participating in the financing under related-party transaction rules; the funds are earmarked for general working capital, and the financing remains subject to final TSX Venture Exchange approvals and statutory hold periods for the issued securities.
The most recent analyst rating on (TSE:ERA) stock is a Hold with a C$0.17 price target. To see the full list of analyst forecasts on Elcora Advanced Materials stock, see the TSE:ERA Stock Forecast page.
Spark’s Take on TSE:ERA Stock
According to Spark, TipRanks’ AI Analyst, TSE:ERA is a Neutral.
The score is held down primarily by very weak financial fundamentals (zero/unstable revenue, ongoing losses, negative equity, and negative free cash flow). Positive technical momentum (price above key moving averages with positive MACD) provides some offset, but valuation remains unattractive/indeterminate due to losses and no dividend support.
To see Spark’s full report on TSE:ERA stock, click here.
More about Elcora Advanced Materials
Founded in 2011, Elcora Advanced Materials Corp. is structured as a vertically integrated battery materials company that processes, refines and produces battery-related minerals and metals. The firm has developed a cost-effective, scalable purification process for high-quality battery metals and minerals, positioning it to participate across the battery materials supply chain.
Average Trading Volume: 28,580
Technical Sentiment Signal: Hold
Current Market Cap: C$2.98M
For detailed information about ERA stock, go to TipRanks’ Stock Analysis page.