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The latest update is out from K2 Gold ( (TSE:KTO) ).
K2 Gold Corporation has launched a non-brokered private placement of up to 21.43 million common shares at C$0.70 per share to raise as much as C$15 million, using a listed issuer financing exemption in most Canadian jurisdictions outside Quebec. The company plans to direct the net proceeds toward exploration work at its Mojave and Si2 gold projects and for general corporate purposes, a move that could accelerate drilling and de-risk its U.S. exploration portfolio, subject to customary regulatory and stock exchange approvals.
The most recent analyst rating on (TSE:KTO) stock is a Hold with a C$0.75 price target. To see the full list of analyst forecasts on K2 Gold stock, see the TSE:KTO Stock Forecast page.
Spark’s Take on TSE:KTO Stock
According to Spark, TipRanks’ AI Analyst, TSE:KTO is a Neutral.
The score is driven by strong technical momentum and favorable corporate de-risking/permitting progress, but capped by weak financial performance (no revenue, persistent losses and cash burn) and limited valuation support due to a negative P/E and no dividend.
To see Spark’s full report on TSE:KTO stock, click here.
More about K2 Gold
K2 Gold Corporation is a Vancouver-based mineral exploration company focused on advancing gold projects in the western United States. Led by a management team with a track record of more than $2.6 billion in completed gold transactions, including the sales of Great Bear Resources and Kaminak Gold, K2 is part of the Discovery Group, an alliance credited with discoveries exceeding 10 million ounces of gold. Its key assets include the Mojave oxide gold project in California, which hosts multiple drilled surface gold targets, and the Si2 epithermal gold project in Nevada’s Walker Lane Trend, where recent work has outlined priority structural targets that have yet to be fully tested.
Average Trading Volume: 286,889
Technical Sentiment Signal: Buy
Current Market Cap: C$133.6M
For a thorough assessment of KTO stock, go to TipRanks’ Stock Analysis page.