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FireFox Gold ( (TSE:FFOX) ) has issued an announcement.
FireFox Gold Corp., a company listed on the TSX Venture Exchange, has completed the second and final tranche of its non-brokered private placement, raising $7 million through the issuance of 175 million units. Each unit consists of one common share and one share purchase warrant. The proceeds will be used for mineral exploration in northern Finland and general working capital. The company also completed a 10-for-1 share consolidation, reducing its outstanding shares to 38.3 million, and its newly consolidated shares began trading at $0.55 per share.
Spark’s Take on TSE:FFOX Stock
According to Spark, TipRanks’ AI Analyst, TSE:FFOX is a Underperform.
FireFox Gold Corp.’s financial performance is significantly hindered by zero revenue and ongoing operational losses, which are major concerns. The technical analysis indicates weak market momentum and bearish trends, while the lack of earnings results in a negative P/E ratio and no dividend yield, making the stock less attractive from a valuation standpoint. The strong equity position with no debt provides some financial stability, but the overall outlook is challenging without revenue generation.
To see Spark’s full report on TSE:FFOX stock, click here.
More about FireFox Gold
Average Trading Volume: 28,143
Technical Sentiment Signal: Buy
Current Market Cap: C$19.93M
For an in-depth examination of FFOX stock, go to TipRanks’ Overview page.