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Midland Exploration ( (TSE:MD) ) has provided an update.
Midland Exploration Inc. announced a non-brokered private placement to raise $5,058,750 through the sale of flow-through shares, with an additional $1,050,000 from institutional investors. Centerra Gold Inc. will participate as a strategic investor, acquiring 9.9% of Midland’s shares, which will support the development of Midland’s gold exploration projects in Quebec. The funds will be used for Canadian exploration expenses, and the offering is expected to close by July 25, 2025, pending regulatory approvals.
Spark’s Take on TSE:MD Stock
According to Spark, TipRanks’ AI Analyst, TSE:MD is a Neutral.
Midland Exploration’s stock score is primarily influenced by its financial challenges and negative valuation metrics. The company’s technical indicators provide some support, but the lack of profitability and cash flow issues remain significant concerns. Positive corporate events offer hope for future growth, but the current financial state limits the overall stock score.
To see Spark’s full report on TSE:MD stock, click here.
More about Midland Exploration
Midland Exploration Inc. is a company focused on discovering new world-class deposits of gold and critical metals in Quebec. It collaborates with reputable partners like BHP Canada Inc., Rio Tinto Exploration Canada Inc., and Agnico Eagle Mines Limited, among others, to enhance its portfolio and generate shareholder value.
Average Trading Volume: 42,423
Technical Sentiment Signal: Sell
Current Market Cap: C$31.83M
Learn more about MD stock on TipRanks’ Stock Analysis page.