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Myriad Uranium Corp ( (TSE:M) ) has provided an announcement.
Myriad Uranium Corp. has successfully closed an over-subscribed private placement, raising $1,893,250 through the issuance of 7,573,000 units. This financing strengthens the company’s cash position to approximately $3.2 million, enabling further exploration of its Copper Mountain Uranium Project. The company is at a pivotal moment, with chemical assays revealing significant new uranium mineralization at Copper Mountain, potentially enhancing the project’s value. The funds will be used for exploration and general working capital, with ongoing efforts to expand permitted boreholes from 50 to 70, contingent on regulatory approval.
The most recent analyst rating on (TSE:M) stock is a Buy with a C$1.35 price target. To see the full list of analyst forecasts on Myriad Uranium Corp stock, see the TSE:M Stock Forecast page.
More about Myriad Uranium Corp
Myriad Uranium Corp. is a uranium exploration company with an earnable 75% interest in the Copper Mountain Uranium Project in Wyoming, USA. The project includes several known uranium deposits and historic uranium mines, such as the Arrowhead Mine, which historically produced 500,000 lbs of U3O8. The site experienced significant drilling and development by Union Pacific in the late 1970s, although operations ceased in 1980.
Average Trading Volume: 117,551
Technical Sentiment Signal: Sell
Current Market Cap: C$16.93M
For detailed information about M stock, go to TipRanks’ Stock Analysis page.