An announcement from Nevada King Gold Corp ( (TSE:NKG) ) is now available.
Nevada King Gold Corp has announced an increase in its non-brokered private placement to $11.5 million, driven by demand from existing shareholders. The proceeds will be used to advance the Atlanta Gold Mine Project and for general working capital. CEO Collin Kettell is significantly involved in the offering, selling a portion of his shares to a U.S.-based fund to finance his subscription, which impacts his shareholding in the company.
Spark’s Take on TSE:NKG Stock
According to Spark, TipRanks’ AI Analyst, TSE:NKG is a Neutral.
Nevada King Gold Corp’s overall stock score reflects its speculative nature as an exploration-stage company with no revenue and negative cash flows. The lack of debt and recent financing provide some stability, but technical indicators are weak. Positive corporate developments offer potential upside if exploration efforts succeed.
To see Spark’s full report on TSE:NKG stock, click here.
More about Nevada King Gold Corp
Nevada King Gold Corp is a mining company focused on advancing its 100% owned Atlanta Gold Mine project located along the Battle Mountain trend in southeast Nevada. The project has a significant gold resource, compliant with the National Instrument 43-101 standards, and the company aims to expand and develop this asset further.
YTD Price Performance: -11.43%
Average Trading Volume: 131,316
Technical Sentiment Signal: Strong Buy
Current Market Cap: $69.16M
Learn more about NKG stock on TipRanks’ Stock Analysis page.