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The latest announcement is out from Heritage Mining Ltd. ( (TSE:HML) ).
Heritage Mining Ltd. has closed the third and final tranche of its non-brokered private placement, raising gross proceeds of approximately $687,801 through the issuance of units and flow-through units, with funds earmarked for exploration and drilling at its Melba and other Ontario projects as well as general working capital. The company detailed the structure of the units and warrants, clarified previously misreported finder’s fees on an earlier tranche, paid additional finder’s fees on this closing, and completed a shares-for-debt transaction converting $124,925 owed to consultants, service providers, directors and officers into nearly 5 million common shares, steps that collectively strengthen its balance sheet and fund ongoing exploration while involving related-party transactions managed under MI 61-101 exemptions.
The most recent analyst rating on (TSE:HML) stock is a Hold with a C$0.02 price target. To see the full list of analyst forecasts on Heritage Mining Ltd. stock, see the TSE:HML Stock Forecast page.
Spark’s Take on TSE:HML Stock
According to Spark, TipRanks’ AI Analyst, TSE:HML is a Neutral.
The score is held down primarily by very weak financial performance (no revenue, large losses/cash burn, and equity nearly wiped out creating high leverage). Technicals are neutral-to-mildly improving but lack strong trend confirmation. Corporate events provide a modest offset via funded exploration progress, while valuation support is limited due to losses (negative P/E) and no dividend yield data.
To see Spark’s full report on TSE:HML stock, click here.
More about Heritage Mining Ltd.
Heritage Mining Ltd. is a Canadian mineral exploration company focused on advancing two high-grade gold-silver-copper projects, Drayton-Black Lake and Contact Bay, in Northwestern Ontario’s underexplored Eagle-Wabigoon-Manitou Greenstone Belt near Sioux Lookout. The projects benefit from extensive historic data, strong site access, and local logistical support, and the company highlights a relatively tight capital structure and strong capitalization as it pursues exploration activities.
Average Trading Volume: 574,291
Technical Sentiment Signal: Hold
Current Market Cap: C$4.59M
See more data about HML stock on TipRanks’ Stock Analysis page.