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The latest announcement is out from Metallis Resources ( (TSE:MTS) ).
Metallis Resources has closed a $1.26 million non-brokered private placement, issuing 4,762,500 non-flow-through units and 2,500,000 flow-through shares to fund exploration and corporate purposes. Flow-through proceeds will support qualifying work at the Kirkham Property, while non-flow-through funds will advance exploration at both Greyhound and Kirkham, strengthening the company’s ability to progress its key projects.
As part of a broader corporate update, the company appointed veteran geoscientist Dave Nuttall as Vice-President of Exploration, bringing extensive discovery and project-advancement experience across multiple deposit types in Canada and the U.S. His appointment is expected to sharpen exploration targeting and enhance the discovery potential at Metallis’ core British Columbia assets, as the firm transitions leadership from long-serving VP Exploration Dave Dupré.
The most recent analyst rating on (TSE:MTS) stock is a Sell with a C$0.19 price target. To see the full list of analyst forecasts on Metallis Resources stock, see the TSE:MTS Stock Forecast page.
Spark’s Take on TSE:MTS Stock
According to Spark, TipRanks’ AI Analyst, TSE:MTS is a Neutral.
The score is primarily constrained by poor financial performance (pre-revenue, widening losses and negative free cash flow), reinforced by bearish technical signals (price below major moving averages and negative MACD). Valuation is neutral because negative earnings make P/E less informative and no dividend yield is available.
To see Spark’s full report on TSE:MTS stock, click here.
More about Metallis Resources
Metallis Resources Inc. is a Canadian mineral exploration company focused on advancing its Greyhound and Kirkham projects in northwest British Columbia. The company targets precious and base metal systems, including porphyry and other deposit types, and operates within the early- to advanced-stage exploration segment of the mining sector.
Average Trading Volume: 75,877
Technical Sentiment Signal: Sell
Current Market Cap: C$13.72M
Learn more about MTS stock on TipRanks’ Stock Analysis page.