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Laurion Mineral Exploration ( (TSE:LME) ) has shared an announcement.
Laurion Mineral Exploration Inc. has closed a non-brokered private placement of 4,619,130 flow-through units at $0.33 per unit, raising gross proceeds of $1,524,313, with each unit comprising one flow-through common share and one-half of a warrant exercisable at $0.39 for 24 months. The funds, which qualify as Canadian exploration expenses and flow-through mining expenditures under the Income Tax Act, are earmarked to advance Laurion’s 2026 drill program at its Ishkõday property, while the financing—subject to final TSX Venture Exchange approval—also included cash finder’s fees and finder’s warrants and places a standard four-month-plus-one-day hold period on the issued securities.
Spark’s Take on TSE:LME Stock
According to Spark, TipRanks’ AI Analyst, TSE:LME is a Neutral.
Laurion Mineral Exploration faces critical challenges with no revenue and substantial losses, impacting its financial sustainability. Positive corporate events provide a glimpse of potential future value, but weak technical indicators and unattractive valuation metrics keep the overall stock score low.
To see Spark’s full report on TSE:LME stock, click here.
More about Laurion Mineral Exploration
Laurion Mineral Exploration Inc. is a Canadian mineral exploration company focused on advancing its Ishkõday property, with activities centered on exploration drilling and related development work in the mining sector.
Average Trading Volume: 83,670
Technical Sentiment Signal: Sell
Current Market Cap: C$80.86M
For detailed information about LME stock, go to TipRanks’ Stock Analysis page.