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The latest announcement is out from Iconic Minerals ( (TSE:ICM) ).
Iconic Minerals has amended the terms of its previously announced non-brokered private placement, now planning to issue up to 30 million units at $0.125 per unit to raise as much as $3.75 million, with each unit comprising one common share and a two-year warrant exercisable at $0.17, subject to an accelerated expiry if the share price trades above a specified level. The company intends to use the proceeds to fund drilling and further advancement of its exploration program at the New Pass gold property in Nevada and for general working capital, with the financing remaining subject to TSX Venture Exchange approval and potential payment of finders’ fees, underscoring Iconic’s continued push to advance its key U.S. gold asset.
The most recent analyst rating on (TSE:ICM) stock is a Hold with a C$0.16 price target. To see the full list of analyst forecasts on Iconic Minerals stock, see the TSE:ICM Stock Forecast page.
Spark’s Take on TSE:ICM Stock
According to Spark, TipRanks’ AI Analyst, TSE:ICM is a Neutral.
The score is held down primarily by weak financial performance (no revenue, ongoing losses, and negative free cash flow alongside a shrinking equity base). Technicals are a relative positive with price above major moving averages and a positive MACD, but valuation is constrained by continued losses and no dividend yield data.
To see Spark’s full report on TSE:ICM stock, click here.
More about Iconic Minerals
Iconic Minerals Ltd. is a Vancouver-based mineral exploration company focused on advancing its New Pass gold property in Nevada. The company operates in the precious metals exploration sector, targeting gold projects in mining-friendly jurisdictions and funding its work primarily through equity financings on the TSX Venture Exchange and other public markets.
Average Trading Volume: 908,233
Technical Sentiment Signal: Buy
Current Market Cap: C$25.66M
Learn more about ICM stock on TipRanks’ Stock Analysis page.