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Turmalina Metals Corp ( (TSE:KCP) ) has issued an update.
King Copper Discovery Corp. has closed a non-brokered private placement of 25 million units at C$0.60 per unit, each comprising one common share and one warrant exercisable at C$0.98 for two years, raising gross proceeds of C$15 million. A small portion of the financing was subscribed by insiders, categorized as related-party transactions but exempt from formal valuation and minority approval requirements under Canadian securities rules. The net proceeds will be directed to general working capital and to advancing the company’s assessment and evaluation of multiple copper exploration and development prospects across South America, bolstering its funding base as it seeks to progress its regional project pipeline.
The most recent analyst rating on (TSE:KCP) stock is a Hold with a C$1.00 price target. To see the full list of analyst forecasts on Turmalina Metals Corp stock, see the TSE:KCP Stock Forecast page.
Spark’s Take on TSE:KCP Stock
According to Spark, TipRanks’ AI Analyst, TSE:KCP is a Neutral.
The score is held back mainly by weak financial performance (no revenue, recurring losses, negative free cash flow, and negative equity). Technicals are a meaningful offset with price above major moving averages and positive MACD, while valuation remains unattractive due to negative earnings. A positive exploration update provides some support but is secondary to the current financial risk profile.
To see Spark’s full report on TSE:KCP stock, click here.
More about Turmalina Metals Corp
King Copper Discovery Corp. is a Vancouver-based mineral exploration company focused on copper exploration and development opportunities in South America, with current properties located in Argentina and Peru.
YTD Price Performance: 11.58%
Average Trading Volume: 622,346
Technical Sentiment Signal: Buy
Current Market Cap: C$300.2M
Learn more about KCP stock on TipRanks’ Stock Analysis page.