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An update from Palamina ( (TSE:PA) ) is now available.
Palamina Corp. has successfully completed the first tranche of its non-brokered private placement, raising $1,634,375 through the issuance of 13,075,000 units. The proceeds will be used to advance its Galena silver copper manganese project and Usicayos gold project, as well as for general corporate purposes. The transaction included participation from related parties and is subject to regulatory acceptance, highlighting Palamina’s ongoing efforts to strengthen its project portfolio and financial position.
Spark’s Take on TSE:PA Stock
According to Spark, TipRanks’ AI Analyst, TSE:PA is a Underperform.
Palamina Corp. faces significant financial challenges, with consistent negative revenue and cash flow issues, despite having no debt. Technical analysis indicates weak momentum, while the valuation suggests potential undervaluation. The positive corporate event related to manganese anomalies offers some optimism for future exploration success, but overall, financial difficulties weigh heavily on the stock’s potential.
To see Spark’s full report on TSE:PA stock, click here.
More about Palamina
Palamina is an exploration company with a focus on high-grade copper-silver assets in southeastern and northeastern Peru, as well as gold projects in the Puno Orogenic Gold Belt. The company is listed on the TSX Venture Exchange under the symbol PA and on the OTCQB under the symbol PLMNF.
Average Trading Volume: 39,938
Technical Sentiment Signal: Hold
Current Market Cap: C$8.95M
For detailed information about PA stock, go to TipRanks’ Stock Analysis page.