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Golden Shield Resources Inc. ( (TSE:GSRI) ) has shared an update.
Golden Shield Resources Inc. has successfully closed an over-subscribed private placement, raising gross proceeds of $989,450 through the issuance of 6,596,333 common shares at $0.15 per share. The funds will be used for corporate purposes and exploration at the Marudi Mountain Property. The financing involved insider participation, considered a related party transaction under MI 61-101, but the company relied on exemptions from formal valuation and minority shareholder approval requirements.
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: 27,639
Technical Sentiment Signal: Sell
Current Market Cap: C$2.15M
Find detailed analytics on GSRI stock on TipRanks’ Stock Analysis page.