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Freegold Ventures ( (TSE:FVL) ) has provided an update.
Freegold Ventures Limited has closed an upsized brokered private placement, raising approximately $50 million through the issuance of 38,461,500 common shares at $1.30 each, with Paradigm Capital acting as lead agent alongside Stifel Nicolaus Canada. The proceeds will be used to complete a pre-feasibility study for the Golden Summit Project, fund ongoing exploration, and support general corporate purposes, positioning the company to accelerate technical work and exploration east of the current resource zone through early 2027 while strengthening its financial footing and project pipeline. The financing, which included a significant participation by investor Eric Sprott under related-party rules, underscores strong investor confidence in Golden Summit and is seen as a key milestone that improves Freegold’s ability to advance its flagship asset, subject to final approval from the Toronto Stock Exchange.
The most recent analyst rating on (TSE:FVL) stock is a Hold with a C$1.50 price target. To see the full list of analyst forecasts on Freegold Ventures stock, see the TSE:FVL Stock Forecast page.
Spark’s Take on TSE:FVL Stock
According to Spark, TipRanks’ AI Analyst, TSE:FVL is a Neutral.
The score is driven mainly by balance-sheet resilience despite weak operating/cash-flow fundamentals, supported by bullish technical trend signals and a series of positive project/financing corporate updates. The primary drag is the lack of revenue and ongoing losses (negative P/E), implying continued reliance on external funding.
To see Spark’s full report on TSE:FVL stock, click here.
More about Freegold Ventures
Freegold Ventures Limited is a Canadian mineral exploration and development company focused on advancing its Golden Summit Project in Alaska. The company is primarily engaged in gold exploration and resource development, targeting the expansion and de-risking of its flagship project to enhance long-term growth and shareholder value within the precious metals sector.
Average Trading Volume: 718,730
Technical Sentiment Signal: Buy
Current Market Cap: C$847.2M
For detailed information about FVL stock, go to TipRanks’ Stock Analysis page.