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An update from Nickel North Exploration ( (TSE:NNX) ) is now available.
Nickel North Exploration Corp. has announced a non-brokered private placement of up to 60 million units at $0.05 per unit, for gross proceeds of up to $3 million, with each unit consisting of one common share and one-half warrant exercisable at $0.08 for two years. The financing, which includes insider participation and remains subject to TSX Venture Exchange and other regulatory approvals, will fund field exploration at the company’s Hawk Ridge Ni-Cu-PGE-Co project in Northern Quebec, general working capital and potential asset acquisitions, underscoring Nickel North’s efforts to advance its critical minerals portfolio in a strategically important jurisdiction for battery and energy-transition metals.
The most recent analyst rating on (TSE:NNX) stock is a Sell with a C$0.05 price target. To see the full list of analyst forecasts on Nickel North Exploration stock, see the TSE:NNX Stock Forecast page.
Spark’s Take on TSE:NNX Stock
According to Spark, TipRanks’ AI Analyst, TSE:NNX is a Neutral.
The score is held down primarily by very weak financial performance (pre-revenue, ongoing losses, negative free cash flow, and deeply negative equity with debt). Technicals are a partial offset with strong trend indicators, but overbought signals increase downside risk. Valuation remains unattractive/unclear due to negative earnings and no dividend.
To see Spark’s full report on TSE:NNX stock, click here.
More about Nickel North Exploration
Nickel North Exploration Corp. is a Canada-based mineral exploration company focused on defining a copper-nickel-cobalt-platinum group element resource at its Hawk Ridge Project in Northern Quebec. The property comprises a 50 km-long belt of magmatic Cu-Ni-Co-PGE occurrences over 179.67 km² in a mining-friendly jurisdiction, and the company has been recognized by Quebec’s Ministry of Economics and Innovation as a key player in the province’s critical and strategic minerals value chain, while emphasizing sustainable development and strong relationships with local Inuit communities.
Average Trading Volume: 89,852
Technical Sentiment Signal: Buy
Current Market Cap: C$5.8M
For a thorough assessment of NNX stock, go to TipRanks’ Stock Analysis page.