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Evergold Corp ( (TSE:EVER) ) has provided an announcement.
Evergold Corp. has closed a $300,000 non-brokered private placement with principals associated with the Ore Group, issuing 1,304,346 units at $0.23 per unit, each comprising one common share and a two-year warrant exercisable at $0.30, subject to regulatory approval and a standard hold period. The financing signals the start of a strategic repositioning that will concentrate the company’s efforts on its 100%-owned Golden Lion gold-silver project in British Columbia’s Toodoggone district, underscoring a more focused exploration strategy that could reshape its asset portfolio and growth prospects within the junior mining space.
The most recent analyst rating on (TSE:EVER) stock is a Hold with a C$0.34 price target. To see the full list of analyst forecasts on Evergold Corp stock, see the TSE:EVER Stock Forecast page.
Spark’s Take on TSE:EVER Stock
According to Spark, TipRanks’ AI Analyst, TSE:EVER is a Neutral.
The score is held down primarily by weak financial performance (no revenue, ongoing losses, and continued cash burn despite no debt). Technicals provide partial support with the price above key moving averages and a slightly positive MACD, but elevated RSI limits the technical contribution. Valuation is constrained by negative earnings and no dividend yield data.
To see Spark’s full report on TSE:EVER stock, click here.
More about Evergold Corp
Evergold Corp. is a TSX Venture-listed mineral exploration company with projects in British Columbia and Nevada, focused on gold and silver targets. Its management team has a notable track record in the junior mining sector, including founding GT Gold Corp. and discovering the Saddle South and Saddle North deposits in B.C., which were ultimately sold to Newmont for a substantial premium over exploration costs.
Average Trading Volume: 31,667
Technical Sentiment Signal: Buy
Current Market Cap: C$4.32M
For an in-depth examination of EVER stock, go to TipRanks’ Overview page.