GoldQuest Raises Additional C$8.7 Million in Second Tranche of Private Placement

GoldQuest Mining ( (TSE:GQC) ) has shared an update.

GoldQuest Mining has closed the second tranche of its non-brokered private placement, issuing 7,172,813 units at C$1.21 each for gross proceeds of about C$8.7 million, bringing total funds raised across the first two tranches to roughly C$40 million. The financing, which includes warrants and involves a modest level of insider participation, is intended to support early development work at the Romero project, expand greenfield exploration drilling and fund general corporate purposes, bolstering the company’s ability to advance its Dominican Republic assets and potentially strengthening its position in the regional gold and copper exploration sector.

The most recent analyst rating on (TSE:GQC) stock is a Hold with a C$1.50 price target. To see the full list of analyst forecasts on GoldQuest Mining stock, see the TSE:GQC Stock Forecast page.

Spark’s Take on TSE:GQC Stock

According to Spark, TipRanks’ AI Analyst, TSE:GQC is a Neutral.

The score is held down primarily by weak financial performance (no revenue, widening losses, and negative free cash flow indicating reliance on financing). Offsetting this, technicals are constructive with strong trend and positive momentum, while valuation remains challenged due to ongoing losses and no dividend support.

To see Spark’s full report on TSE:GQC stock, click here.

More about GoldQuest Mining

GoldQuest Mining Corp. is a Canadian mineral exploration and development company focused on advancing its gold and copper assets in the Dominican Republic. The company has strong participation from Dominican investors and is led by a board and management team with prior experience in developing and operating a mine in the country.

Average Trading Volume: 311,195

Technical Sentiment Signal: Buy

Current Market Cap: C$569.7M

Learn more about GQC stock on TipRanks’ Stock Analysis page.