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An update from Meryllion Resources ( (TSE:MYR) ) is now available.
Meryllion Resources Corporation, a company listed on the Canadian Securities Exchange, has announced a related party loan agreement with director David Steinepreis for CAD$195,000. The loan, which is unsecured and bears a 6% annual interest rate, will be used to address accrued liabilities and support working capital. This transaction is a related party transaction under Multilateral Instrument 61-101, but the company has utilized exemptions from certain requirements due to its market capitalization.
Spark’s Take on TSE:MYR Stock
According to Spark, TipRanks’ AI Analyst, TSE:MYR is a Underperform.
Meryllion Resources faces significant financial and operational challenges with no revenue and negative equity. The recent private placements provide a slight improvement in capital but do not offset the fundamental risks. The stock’s valuation is hindered by a negative P/E ratio, and technical analysis indicates a bearish trend.
To see Spark’s full report on TSE:MYR stock, click here.
More about Meryllion Resources
Average Trading Volume: 22,128
Technical Sentiment Signal: Buy
Current Market Cap: C$2.26M
See more insights into MYR stock on TipRanks’ Stock Analysis page.