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An update from Mammoth Resources ( (TSE:MTH) ) is now available.
Mammoth Resources has announced an increase in its private placement financing from $750,000 to $980,000 due to additional demand. The funds will be used primarily to advance the Tenoriba precious metal project in Mexico and evaluate potential project acquisitions, with a portion allocated to working capital needs. The private placement is available to accredited investors and has received conditional approval from the TSX Venture Exchange.
Spark’s Take on TSE:MTH Stock
According to Spark, TipRanks’ AI Analyst, TSE:MTH is a Underperform.
Mammoth Resources faces significant financial challenges with persistent losses and negative equity, severely impacting its financial performance score. While technical indicators suggest short-term positive momentum, the overbought RSI warns of possible price corrections. The negative P/E ratio and absence of dividends further detract from the stock’s appeal, resulting in a low overall score.
To see Spark’s full report on TSE:MTH stock, click here.
More about Mammoth Resources
Mammoth Resources is a precious metal mineral exploration company focused on acquiring and defining precious metal resources in Mexico and other mining-friendly jurisdictions in the Americas. The company holds a 100% interest in the Tenoriba gold property in Chihuahua State, Mexico, and seeks opportunities to explore projects with high potential for precious metals.
Average Trading Volume: 192,010
Technical Sentiment Signal: Sell
Current Market Cap: C$1.35M
For a thorough assessment of MTH stock, go to TipRanks’ Stock Analysis page.