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An update from Kore Mining Ltd ( (TSE:KORE) ) is now available.
KORE Mining Ltd. has announced a non-brokered private placement aiming to raise up to C$4 million through the issuance of 33,333,333 units at C$0.12 per unit. The proceeds will be used to advance permitting and exploration of its development properties in California and for general corporate purposes. Additionally, the company announced the resignation of Mr. Jay Sujir from the Board of Directors, who will continue to serve in an advisory role.
Spark’s Take on TSE:KORE Stock
According to Spark, TipRanks’ AI Analyst, TSE:KORE is a Neutral.
Kore Mining Ltd’s stock is significantly impacted by its weak financial performance, characterized by consistent losses, negative cash flow, and a weak balance sheet. While there is some technical momentum, the high Stochastic indicator suggests caution. The negative P/E ratio further underscores unprofitability concerns, resulting in a below-average overall score.
To see Spark’s full report on TSE:KORE stock, click here.
More about Kore Mining Ltd
KORE Mining Ltd. is a company focused on responsibly creating value from its portfolio of gold assets in California, USA. The company is advancing the Imperial project towards development while continuing to explore across district-scale gold assets.
Average Trading Volume: 178,475
Technical Sentiment Signal: Buy
Current Market Cap: C$7.69M
For a thorough assessment of KORE stock, go to TipRanks’ Stock Analysis page.