Panoro Minerals Raises C$3.44 Million to Advance Cotabambas Project

Panoro Minerals ( (TSE:PML) ) has provided an update.

Panoro Minerals has closed the second and final tranche of its brokered private placement under the listed issuer financing exemption, raising C$520,000 from the sale of 1.3 million units at C$0.40 each, bringing total gross proceeds from the offering to C$3,438,200. Each unit comprises one common share and one warrant exercisable at C$0.60 until November 2028, with the funds earmarked for infill drilling, metallurgical testing, pre-feasibility engineering and an updated preliminary economic assessment at the Cotabambas copper-gold-silver project, as well as working capital, reinforcing the company’s efforts to technically de-risk and advance the Peruvian asset while it seeks strategic options to move the project toward development.

Spark’s Take on TSE:PML Stock

According to Spark, TipRanks’ AI Analyst, TSE:PML is a Neutral.

Panoro Minerals’ overall score is primarily impacted by its weak financial performance, with persistent losses and operational inefficiencies. Despite positive technical indicators suggesting short-term momentum, the valuation remains unattractive due to negative earnings and lack of dividends. These factors combine to place the stock in a lower score range.

To see Spark’s full report on TSE:PML stock, click here.

More about Panoro Minerals

Panoro Minerals Ltd. is a Vancouver-based mineral exploration and development company focused on advancing its Cotabambas copper-gold-silver project in Peru. The company is pursuing technical milestones such as project optimization studies, an updated preliminary economic assessment and pre-feasibility work, while also exploring strategic alternatives with potential partners to move Cotabambas toward construction and eventual operation.

Average Trading Volume: 128,528

Technical Sentiment Signal: Hold

Current Market Cap: C$87.32M

For an in-depth examination of PML stock, go to TipRanks’ Overview page.