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An update from Palamina ( (TSE:PA) ) is now available.
Palamina Corp. has announced a non-brokered private placement offering to raise up to $2,500,000 by issuing 20,000,000 units priced at $0.125 each. The proceeds will be used to advance the company’s Galena silver copper manganese project and Usicayos gold project, as well as for general corporate purposes. This move is expected to bolster Palamina’s operational capabilities and strengthen its position in the exploration industry, focusing on its Peruvian assets.
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 focused 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: 43,528
Technical Sentiment Signal: Buy
Current Market Cap: C$11.46M
For a thorough assessment of PA stock, go to TipRanks’ Stock Analysis page.