tiprankstipranks
Trending News
More News >

Palamina Divests Stake in Winshear, Reclaims Gold Projects

Story Highlights
Palamina Divests Stake in Winshear, Reclaims Gold Projects

Confident Investing Starts Here:

An update from Palamina ( (TSE:PA) ) is now available.

Palamina Corp. has announced the sale of its 15.38% stake in Winshear Gold Corp., generating gross proceeds of $290,000. Following this divestment, Palamina no longer holds any shares in Winshear and will cease filing insider reports related to Winshear. This move aligns with Winshear’s decision to exit Peru, and Palamina is in the process of reclaiming ownership of the Gaban gold and Ica copper-gold projects, with completion expected by July 2025.

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 Corp. is an exploration company with a focus on gold projects in the Puno Orogenic Gold Belt in southeastern Peru. The company is primarily engaged in adding value through drill discovery at its Usicayos gold project and has a strategy of acquiring and holding copper and silver assets in southeastern and northeastern Peru. Palamina is publicly traded on the TSX Venture Exchange and the OTCQB Venture Market.

YTD Price Performance: -5.00%

Average Trading Volume: 53,966

Technical Sentiment Signal: Buy

Current Market Cap: C$6.81M

See more data about PA stock on TipRanks’ Stock Analysis page.

Disclaimer & Disclosure

Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.

Report an Issue

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App