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Blue Thunder Mining ( (TSE:BLUE) ) has shared an announcement.
IAMGOLD Corporation has completed its acquisition of Mines D’Or Orbec Inc., buying all issued and outstanding Orbec shares and making Orbec a wholly owned subsidiary in a transaction valuing each Orbec share at C$0.125 in a mix of IAMGOLD stock and cash. In-the-money Orbec options and warrants were cashed out based on the transaction value and then cancelled, while out-of-the-money options and warrants were cancelled without payment, and Orbec’s shares will be delisted from the TSX Venture Exchange and removed from the OTC Pink market as the company applies to cease being a reporting issuer in key Canadian provinces, marking a full exit for public shareholders and consolidating IAMGOLD’s control over the strategically located Muus Project near its Nelligan development.
Spark’s Take on TSE:BLUE Stock
According to Spark, TipRanks’ AI Analyst, TSE:BLUE is a Underperform.
The overall stock score is significantly impacted by the company’s weak financial performance, marked by negative profitability and revenue absence. While there are some positive technical indicators and corporate governance improvements, these are overshadowed by fundamental financial challenges. The stock’s negative P/E ratio and lack of dividends further dampen its attractiveness.
To see Spark’s full report on TSE:BLUE stock, click here.
More about Blue Thunder Mining
Mines D’Or Orbec Inc. is a Canadian gold exploration company that owns 100% of the Muus Project, a roughly 25,250-hectare mineral claim package near Chibougamau, Québec, in the northeastern Abitibi Greenstone Belt. The project is prospective for gold and copper-gold volcanogenic massive sulphide mineralization and lies adjacent to, and on strike with, IAMGOLD’s Nelligan Gold Project, positioning Orbec’s assets in a well-known, actively explored gold district.
YTD Price Performance: 190.0%
Average Trading Volume: 492,580
Technical Sentiment Signal: Buy
Current Market Cap: C$18.27M
For an in-depth examination of BLUE stock, go to TipRanks’ Overview page.