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Orex Minerals ( (TSE:REX) ) has shared an update.
Orex Minerals Inc. has closed a non-brokered private placement for gross proceeds of $5 million, issuing 30,303,030 units at $0.165 each, with each unit comprising one common share and a warrant exercisable at $0.22 for 24 months, all subject to contractual and statutory hold periods. The company plans to use the funds to support exploration at its Jumping Josephine Project, meet tax obligations on its properties, maintain reserves for potential transactions, and cover general corporate expenses.
Prominent investor Eric Sprott increased his position to 9.7% on a non-diluted basis and 13.5% on a fully diluted basis, underscoring continued institutional interest in Orex’s exploration potential. The financing also included insider participation deemed a related-party transaction under MI 61-101, for which Orex relied on standard exemptions, while paying modest finder’s fees in cash and units, highlighting a relatively low-cost capital raise that modestly strengthens the company’s balance sheet and exploration runway.
The most recent analyst rating on (TSE:REX) stock is a Hold with a C$0.34 price target. To see the full list of analyst forecasts on Orex Minerals stock, see the TSE:REX Stock Forecast page.
Spark’s Take on TSE:REX Stock
According to Spark, TipRanks’ AI Analyst, TSE:REX is a Neutral.
The score is held down primarily by very weak financial performance (no revenue, sustained losses, and continued cash burn with shrinking equity). Technical momentum is a key offset (price above major moving averages with positive MACD), while valuation provides limited support due to negative earnings and no dividend yield data.
To see Spark’s full report on TSE:REX stock, click here.
More about Orex Minerals
Orex Minerals Inc. is a Vancouver-based mineral exploration company listed on the TSX Venture Exchange and OTCQB, focused on advancing precious and base metal projects such as its Jumping Josephine property. The company operates in the mining exploration sector, deploying capital primarily into exploration programs, property maintenance, and related corporate overhead to position its assets for potential future development or transactions.
Average Trading Volume: 191,193
Technical Sentiment Signal: Hold
Current Market Cap: C$10.14M
See more insights into REX stock on TipRanks’ Stock Analysis page.