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Nine Mile Metals Ltd ( (TSE:NINE) ) has provided an update.
Nine Mile Metals Ltd. has increased the size of its previously announced listed issuer financing exemption offering from up to $4 million to as much as $6.2 million in response to strong investor demand, issuing units comprised of one common share and one warrant exercisable at $0.30 for two years. The financing, offered to investors across most Canadian provinces without a statutory hold period for qualifying subscribers, is expected to close around January 19, 2026 and may include finders’ fees; proceeds will be directed toward exploration and related expenses at the company’s critical minerals projects in the Bathurst Mining Camp as well as general corporate purposes, potentially strengthening its capital position as it pursues growth in the EV- and green-technology-focused minerals space.
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. Its primary business objective is to advance four VMS projects—Nine Mile Brook, California Lake, Canoe Landing Lake (East-West) and Wedge—targeting “minerals for technology” aligned with demand from electric vehicles and green technologies, with gold providing a hedge.
Average Trading Volume: 1,556,290
Technical Sentiment Signal: Buy
Current Market Cap: C$15.66M
For an in-depth examination of NINE stock, go to TipRanks’ Overview page.