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Fireweed Zinc ( (TSE:FWZ) ) has issued an update.
Fireweed Metals Corp. has successfully closed the final tranche of its non-brokered private placement, raising an additional $5.6 million. This marks the completion of their financing efforts, totaling $60 million from both brokered and non-brokered offerings. The funds will be used for exploration and development of the company’s projects in Northern Canada, as well as for working capital and general corporate purposes. The involvement of the Lundin Family Trust, a related party, was approved by shareholders, enabling them to become a control person of the company.
Spark’s Take on TSE:FWZ Stock
According to Spark, TipRanks’ AI Analyst, TSE:FWZ is a Neutral.
Fireweed Zinc’s overall stock score reflects significant financial challenges, with negative profitability and cash flow issues being major concerns. While technical analysis offers some optimism with positive momentum, the poor valuation due to unprofitability weighs heavily on the score. Recent corporate events suggest strategic improvements, but their impact is not yet realized, warranting a cautious outlook.
To see Spark’s full report on TSE:FWZ stock, click here.
More about Fireweed Zinc
Fireweed Metals Corp. is an exploration company focused on developing a new critical metals district in Northern Canada. The company is the sole owner of the Macpass District, a large and promising 985 square kilometer land package.
Average Trading Volume: 334,414
Technical Sentiment Signal: Buy
Current Market Cap: C$445.5M
Find detailed analytics on FWZ stock on TipRanks’ Stock Analysis page.