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Golden Shield Resources Inc. ( (TSE:GSRI) ) has issued an announcement.
Golden Shield Resources Inc. announced a non-brokered private placement to raise up to $975,000 through the issuance of 6,500,000 common shares at $0.15 per share. The funds will be used for exploration expenditures at the Marudi Mountain Property and for corporate and general working capital. The offering is subject to customary conditions and will be conducted in compliance with applicable securities laws, with a statutory hold period of four months and one day from the closing date. This move is expected to support the company’s exploration activities and strengthen its financial position.
Spark’s Take on TSE:GSRI Stock
According to Spark, TipRanks’ AI Analyst, TSE:GSRI is a Underperform.
Golden Shield Resources Inc. presents considerable financial and operational challenges, with consistent losses and negative cash flows. Technically, the stock is weak, trading below key averages and close to oversold conditions. Valuation is unattractive with a negative P/E ratio and no dividend yield. The overall outlook is cautious, highlighting the need for significant operational improvements.
To see Spark’s full report on TSE:GSRI stock, click here.
More about Golden Shield Resources Inc.
Golden Shield Resources Inc. is a company that controls the 5,457-hectare Marudi Mountain Property located in the Rupununi District of southwestern Guyana.
Average Trading Volume: 27,904
Technical Sentiment Signal: Sell
Current Market Cap: C$1.68M
For detailed information about GSRI stock, go to TipRanks’ Stock Analysis page.