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Nine Mile Metals Ltd ( (TSE:NINE) ) just unveiled an update.
Nine Mile Metals Ltd. has launched a non-brokered private placement of up to 21,052,632 units at $0.19 per unit to raise as much as $4 million, with each unit consisting of one common share and one two-year warrant exercisable at $0.30. The financing, offered under the listed issuer financing exemption in Canada (excluding Quebec), is expected to close around January 13, 2026, and the company plans to use the proceeds to fund exploration work and related expenses on its critical minerals projects in the Bathurst Mining Camp, as well as for general corporate and administrative purposes, potentially strengthening its ability to advance key assets in a strategic mining district.
Spark’s Take on TSE:NINE Stock
According to Spark, TipRanks’ AI Analyst, TSE:NINE is a Underperform.
Nine Mile Metals Ltd faces critical financial difficulties, with no revenue and ongoing losses resulting in low financial performance. The technical analysis shows a bearish outlook, compounded by poor valuation metrics. However, recent corporate actions, such as financing and leadership changes, provide a glimmer of hope for improved future performance. Overall, the stock carries significant risk due to its current financial instability.
To see Spark’s full report on TSE:NINE stock, click here.
More about Nine Mile Metals Ltd
Nine Mile Metals Ltd. is a Canadian public mineral exploration company focused on volcanogenic massive sulphide (VMS) deposits containing copper, lead, zinc, silver and gold in the Bathurst Mining Camp in New Brunswick. The company’s primary assets are four VMS projects — Nine Mile Brook, California Lake, Canoe Landing Lake (East-West) and Wedge — and it aims to supply “minerals for technology” for electric vehicle and green technologies, while maintaining exposure to gold as a hedge.
YTD Price Performance: 2.13%
Average Trading Volume: 1,410,110
Technical Sentiment Signal: Buy
Current Market Cap: C$20.31M
Learn more about NINE stock on TipRanks’ Stock Analysis page.