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Pennine Petroleum ( (TSE:PNN) ) has issued an announcement.
Pambili Natural Resources Corporation has announced a C$1-million non-brokered private placement to fund its ongoing projects in Zimbabwe. The proceeds will be used for the continued development of the Golden Valley A1 mining claim and due diligence at the London Wall project, with the aim of commencing pilot production to assess commercial viability.
Spark’s Take on TSE:PNN Stock
According to Spark, TipRanks’ AI Analyst, TSE:PNN is a Underperform.
The overall stock score reflects significant financial distress, with negative profitability and cash flow issues being the most critical factors. The bearish technical outlook and poor valuation further contribute to a low score. The absence of earnings call data and corporate events means these areas have no impact on the assessment.
To see Spark’s full report on TSE:PNN stock, click here.
More about Pennine Petroleum
Pambili Natural Resources Corporation is a natural resources exploration and development company currently focused on developing gold projects in Zimbabwe.
Average Trading Volume: 33,614
Technical Sentiment Signal: Strong Sell
Current Market Cap: C$2.2M
For a thorough assessment of PNN stock, go to TipRanks’ Stock Analysis page.