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An update from Leocor Gold ( (TSE:LECR) ) is now available.
Leocor Mining Inc., a Vancouver-based precious metals explorer with a portfolio of gold-copper projects in Newfoundland’s prolific Baie Verte Mining District, is building a sizeable land position in Atlantic Canada. Its projects, including Dorset and Copper Creek, are held through a mix of outright ownership and earn-in agreements, supporting a strategic exploration corridor of about 2,000 hectares.
The company closed a non-brokered private placement of 80,000,000 units at $0.05 each for gross proceeds of $4 million, with each unit comprising one common share and a three-year warrant exercisable at $0.10. Leocor plans to use the funds to exercise certain convertible securities of Intrepid Metals Corp. and for working capital, while insider participation triggered related-party rules under MI 61-101 but qualified for exemptions, and no finder’s fees were paid, with all new securities subject to a four-month-and-one-day hold period.
The most recent analyst rating on (TSE:LECR) stock is a Sell with a C$0.05 price target. To see the full list of analyst forecasts on Leocor Gold stock, see the TSE:LECR Stock Forecast page.
Spark’s Take on LECR Stock
According to Spark, TipRanks’ AI Analyst, LECR is a Neutral.
The score is primarily weighed down by weak financial performance (no revenue, ongoing losses, and persistent cash burn with a declining equity base). Technical indicators also point to weak momentum with price below key moving averages and a negative MACD. Valuation is not supportive because the negative P/E is driven by losses and there is no dividend yield data.
To see Spark’s full report on LECR stock, click here.
More about Leocor Gold
Leocor Mining Inc. is a British Columbia-based resource company focused on the acquisition and exploration of precious metal projects, currently emphasizing opportunities in Atlantic Canada. Through ownership and earn-in agreements, it controls several gold-copper projects in the Baie Verte Mining District, including Dorset, Dorset Extension, Copper Creek and Five Mile Brook, forming a contiguous 2,000-hectare exploration corridor.
Average Trading Volume: 78,900
Technical Sentiment Signal: Sell
Current Market Cap: C$6.5M
Find detailed analytics on LECR stock on TipRanks’ Stock Analysis page.