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Pacific Empire Minerals ( (TSE:PEMC) ) has provided an update.
Pacific Empire Minerals Corp. has successfully closed a $300,000 non-brokered private placement, issuing 15,000,000 units at $0.02 per unit. The funds will be directed towards general working capital, exploration at the Trident copper-gold project, and marketing activities. This financing marks a significant step for the company as it prepares to advance and conduct diamond drilling at the Trident project, a highly prospective copper-gold porphyry target, in 2025. The offering is subject to final approval by the TSX Venture Exchange and includes a statutory hold period until December 9, 2025.
Spark’s Take on TSE:PEMC Stock
According to Spark, TipRanks’ AI Analyst, TSE:PEMC is a Underperform.
The overall score for Pacific Empire Minerals is low due to significant financial struggles with no revenue, continuous losses, and reliance on external financing. The technical analysis also indicates bearish trends. Although the corporate events indicate potential for future resource development, the lack of current profitability and negative valuation metrics heavily weigh down the score.
To see Spark’s full report on TSE:PEMC stock, click here.
More about Pacific Empire Minerals
Pacific Empire Minerals Corp. is a copper exploration company based in Vancouver, British Columbia, trading on the TSX Venture Exchange under the symbol PEMC. The company holds a district-scale land position in north-central British Columbia, totaling 22,541 hectares, in a region known for its green copper jurisdiction with abundant hydroelectric power and infrastructure close to the end market.
Average Trading Volume: 160,043
Technical Sentiment Signal: Sell
Current Market Cap: C$2.8M
Learn more about PEMC stock on TipRanks’ Stock Analysis page.