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An announcement from Huntsman Exploration ( (TSE:LXM) ) is now available.
Lux Metals Corp. has exercised its option to acquire a 100% interest in the high-grade La Grande gold project in Québec’s James Bay region from OVI Mining Corp., paying with 15,125,477 common shares at a deemed price of C$0.20, with the transaction subject to final TSX Venture Exchange approval. The company also closed the second and final tranche of its C$4 million non-brokered private placement, issuing a total of 20,000,000 units priced at C$0.20, each comprising one share and a two-year warrant at C$0.40, to fund exploration and working capital, and completed a related-party debt settlement by issuing 535,000 shares to insiders to extinguish C$107,000 of liabilities, measures that collectively strengthen its balance sheet and fund the advancement of La Grande.
The most recent analyst rating on (TSE:LXM) stock is a Hold with a C$0.29 price target. To see the full list of analyst forecasts on Huntsman Exploration stock, see the TSE:LXM Stock Forecast page.
Spark’s Take on TSE:LXM Stock
According to Spark, TipRanks’ AI Analyst, TSE:LXM is a Neutral.
The score is held back primarily by very weak financial performance (no revenue, ongoing losses, and persistent negative free cash flow, with equity instability). This is partially offset by strong recent technical momentum (price above key moving averages with positive MACD). Valuation is neutral-to-weak given the negative P/E and no dividend yield support.
To see Spark’s full report on TSE:LXM stock, click here.
More about Huntsman Exploration
Lux Metals Corp. is a Vancouver-based mineral exploration company listed on the TSX Venture Exchange, focused on advancing precious metals projects, including high-grade gold assets in Canada’s James Bay region of Québec.
Average Trading Volume: 177,548
Technical Sentiment Signal: Buy
Current Market Cap: C$10.4M
Learn more about LXM stock on TipRanks’ Stock Analysis page.