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NeonMind Biosciences Inc ( (TSE:LCR) ) has shared an update.
Lancaster Resources Inc. has successfully closed a non-brokered private placement financing, raising $757,000, which exceeded the original target of $500,000 due to increased investor interest. The funds will be used for exploration at their Lake Cargelligo Gold Project in Australia, marketing, and general working capital. Notably, insider participation in the financing has led to Penny White holding over 10% of the company’s shares, triggering early-warning reporting requirements.
Spark’s Take on TSE:LCR Stock
According to Spark, TipRanks’ AI Analyst, TSE:LCR is a Underperform.
NeonMind Biosciences Inc exhibits a challenging financial situation with no revenue, high leverage, and negative cash flows, significantly impacting its overall score. Technical analysis provides some stability signals, but the lack of valuation metrics suggests caution. The overall risk profile suggests a need for strategic changes or additional funding to improve its financial health.
To see Spark’s full report on TSE:LCR stock, click here.
More about NeonMind Biosciences Inc
Lancaster Resources Inc. is a company that owns 100% of the Lake Cargelligo Gold Project in New South Wales, Australia, which spans approximately 62,168 hectares in the Cobar Mining District. The project is noted for its potential gold targets and has not undergone modern geophysics, offering significant discovery potential. Lancaster also holds additional gold, uranium, and polymetallic assets in Saskatchewan and Québec, Canada.
Average Trading Volume: 250,352
Technical Sentiment Signal: Buy
Current Market Cap: C$4.62M
See more data about LCR stock on TipRanks’ Stock Analysis page.