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MetalQuest Mining ( (TSE:MQM) ) has shared an announcement.
MetalQuest Mining Inc. has closed the second and final tranche of its non-brokered private placement, issuing 1,963,760 non-flow-through units at $0.17 each for additional proceeds of $333,839.20, bringing total funds raised across all tranches to $1,966,780.20. Each unit consists of one common share and one-half warrant exercisable at $0.40 for two years, with proceeds earmarked for working capital and exploration, and no finder fees paid on the final tranche. The financing, which drew demand in excess of the amount raised but was capped to limit shareholder dilution, remains subject to TSX Venture Exchange approval and includes a standard four-month-plus-one-day hold period on securities issued. Insider participation triggered related-party transaction rules under MI 61-101 but qualified for exemptions due to its size relative to market capitalization, while chairman and CEO Harry Barr modestly increased his indirect and direct control position through the purchase of 599,313 units, adjusting his post-offering potential ownership stake and reinforcing insider alignment with the company’s financing strategy.
The most recent analyst rating on (TSE:MQM) stock is a Hold with a C$0.31 price target. To see the full list of analyst forecasts on MetalQuest Mining stock, see the TSE:MQM Stock Forecast page.
Spark’s Take on TSE:MQM Stock
According to Spark, TipRanks’ AI Analyst, TSE:MQM is a Neutral.
The score is held back primarily by weak financial performance (ongoing cash burn and lack of stable, revenue-supported operating profitability), with a secondary drag from a very high P/E and no dividend support. Offsetting these risks, technicals are strong, with price above key moving averages and positive momentum indicators.
To see Spark’s full report on TSE:MQM stock, click here.
More about MetalQuest Mining
MetalQuest Mining Inc. is a Canadian mineral exploration company listed on the TSX Venture Exchange and OTCQB, focused on advancing mining and exploration projects. The company finances its activities primarily through equity placements and deploys capital toward exploration programs and general corporate purposes within the resource sector.
Average Trading Volume: 43,566
Technical Sentiment Signal: Buy
Current Market Cap: C$10.29M
For a thorough assessment of MQM stock, go to TipRanks’ Stock Analysis page.