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An announcement from Gold Hunter Resources ( (TSE:HUNT) ) is now available.
Gold Hunter Resources Inc. has closed the first tranche of its previously announced non-brokered private placement, raising gross proceeds of approximately $1.18 million through a mix of flow-through and non-flow-through units, and paying cash finder’s fees and issuing broker warrants in connection with the financing. The company plans to use the flow-through proceeds to fund eligible Canadian exploration expenditures at its Great Northern Project in Newfoundland and to allocate the hard-dollar proceeds to working capital and administrative costs, a capital injection the CEO says will support execution of its exploration strategy and preparations for an upcoming drill program, reinforcing Gold Hunter’s push to advance its flagship gold project and create long-term shareholder value.
The most recent analyst rating on (TSE:HUNT) stock is a Hold with a C$0.06 price target. To see the full list of analyst forecasts on Gold Hunter Resources stock, see the TSE:HUNT Stock Forecast page.
Spark’s Take on TSE:HUNT Stock
According to Spark, TipRanks’ AI Analyst, TSE:HUNT is a Neutral.
The score is held down primarily by weak financial performance (no revenue, ongoing losses, and deteriorating negative cash flow). Offsetting this are improving technical momentum and a series of positive exploration/financing-related corporate updates, while valuation support is limited due to losses and no dividend.
To see Spark’s full report on TSE:HUNT stock, click here.
More about Gold Hunter Resources
Gold Hunter Resources Inc. is a Canadian mineral exploration company focused on acquiring and advancing high-potential precious and base metal projects. Leveraging a data-driven approach that combines modern exploration techniques with historical datasets, the company targets district-scale opportunities and is currently centered on its Great Northern Project in Newfoundland, which spans 26,237 hectares over 40 kilometres of strike along the Doucers Valley Fault Structure in one of the province’s most prospective gold belts.
Average Trading Volume: 434,547
Technical Sentiment Signal: Sell
Current Market Cap: C$7.54M
Learn more about HUNT stock on TipRanks’ Stock Analysis page.