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An update from Lexington Gold ( (GB:LEX) ) is now available.
Lexington Gold has raised £1.19m through a placing and subscription of 29.75 million new shares at 4 pence each, alongside the conversion of £356,322 of unsecured convertible loans (including interest) from a major shareholder and three directors into 8.9 million new shares on the same terms, in a move designed to conserve working capital and strengthen its balance sheet. The net proceeds, supported by participation from existing and new investors including cornerstone US institutions and major shareholder Orasa Chiaratanasen, will fund progress on the Jelani joint venture and its updated Bara Consulting study, targeted drilling on priority projects in South Africa, evaluation of strategic options for the company’s US assets, and general working capital, while the associated share and warrant issuance modestly dilutes existing holders but provides additional growth capital and clarifies the company’s capital structure.
The most recent analyst rating on (GB:LEX) stock is a Hold with a £4.00 price target. To see the full list of analyst forecasts on Lexington Gold stock, see the GB:LEX Stock Forecast page.
Spark’s Take on GB:LEX Stock
According to Spark, TipRanks’ AI Analyst, GB:LEX is a Neutral.
The score is weighed down primarily by pre-revenue operations, widening losses, and ongoing cash burn, indicating continued funding needs. Technicals add modest pressure with weak momentum and price below key short-term moving averages. The strongest offset is the balance sheet position with zero reported debt, which helps reduce financial risk.
To see Spark’s full report on GB:LEX stock, click here.
More about Lexington Gold
Lexington Gold Ltd is a gold exploration and development company with a portfolio of four gold projects in North and South Carolina, USA, covering about 1,675 acres, and six gold projects in South Africa spanning roughly 114,638 hectares. The company focuses on advancing high-quality exploration and development assets across these jurisdictions, targeting growth in resource definition and potential future production.
Average Trading Volume: 504,200
Technical Sentiment Signal: Buy
Current Market Cap: £18.71M
See more insights into LEX stock on TipRanks’ Stock Analysis page.