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An update from Metals Creek Resources ( (TSE:MEK) ) is now available.
Metals Creek Resources Corp. has received TSX Venture Exchange approval to close a non-brokered flow-through private placement financing, raising gross proceeds of $200,000 through the issuance of 5,000,000 flow-through units at $0.04 per unit. Each unit comprises one flow-through share and half a warrant, with whole warrants exercisable at $0.06 for 24 months, alongside finder’s fees of $16,000 and 400,000 broker warrants, and all securities subject to a four‑month hold. The funds will be directed toward exploration work on the company’s Newfoundland and Ontario properties, including the Ogden Gold Project, and are structured to qualify as flow-through mining expenditures under Canadian tax law, providing both capital for advancing key projects and tax-efficient benefits for participating investors.
Spark’s Take on TSE:MEK Stock
According to Spark, TipRanks’ AI Analyst, TSE:MEK is a Underperform.
Metals Creek Resources faces significant financial difficulties, with persistent losses and a lack of revenue generation being the primary concerns. While recent corporate developments offer some hope for future growth, the technical and valuation metrics remain unfavorable, resulting in a low overall stock score.
To see Spark’s full report on TSE:MEK stock, click here.
More about Metals Creek Resources
Metals Creek Resources Corp. is a junior mineral exploration company listed on the TSX Venture Exchange under the symbol MEK, focused on gold exploration in Canada. The company has earned a 50% interest in the Ogden Gold Property, including the former Naybob Gold mine near Timmins, Ontario, covering an 8 km strike length of the Porcupine-Destor Fault, and also holds multiple other exploration projects available for option in Newfoundland and Ontario.
Average Trading Volume: 393,339
Technical Sentiment Signal: Buy
Current Market Cap: C$6.77M
See more data about MEK stock on TipRanks’ Stock Analysis page.