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An announcement from Orestone Mining ( (TSE:ORS) ) is now available.
Orestone Mining Corp. announced a non-brokered private placement to raise up to $2,000,000 through the issuance of 25,000,000 units, each consisting of one common share and one share purchase warrant. The proceeds will be used to further develop its Francisca and Captain properties and for general administrative expenses. The placement involves related party transactions and is subject to TSX Venture Exchange approval, with certain insiders expected to participate.
Spark’s Take on TSE:ORS Stock
According to Spark, TipRanks’ AI Analyst, TSE:ORS is a Neutral.
Orestone Mining’s stock score reflects substantial financial challenges, characterized by zero revenue and persistent losses. Despite technical indicators showing upward momentum, the stock is overvalued with a negative P/E ratio and no dividend yield. The recent acquisition of a gold property offers potential growth, but it remains speculative given the current financial instability.
To see Spark’s full report on TSE:ORS stock, click here.
More about Orestone Mining
Orestone Mining Corp. is a Canadian-based company with a management team experienced in the mining industry. The company focuses on gold, silver, and copper projects in Canada and Argentina, with key properties including the Francisca property in Salta, Argentina, and the Captain gold-copper project in British Columbia, Canada.
Average Trading Volume: 119,553
Technical Sentiment Signal: Buy
Current Market Cap: C$6.28M
See more data about ORS stock on TipRanks’ Stock Analysis page.