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Panoro Minerals ( (TSE:PML) ) has issued an update.
Panoro Minerals plans to raise C$4 million through a fully subscribed non-brokered private placement of 10 million units priced at C$0.40, with warrants exercisable at C$0.60 for three years and subject to customary hold periods and approvals. Proceeds will fund infill drilling, metallurgical work, PEA updates, prefeasibility engineering, and working capital at Cotabambas, reinforcing the project’s technical de-risking and positioning Panoro to progress in the Andean copper development pipeline amid ongoing regulatory requirements.
The most recent analyst rating on (TSE:PML) stock is a Hold with a C$0.54 price target. To see the full list of analyst forecasts on Panoro Minerals stock, see the TSE:PML Stock Forecast page.
Spark’s Take on TSE:PML Stock
According to Spark, TipRanks’ AI Analyst, TSE:PML is a Neutral.
The score is held down primarily by weak financial performance (pre-revenue losses and ongoing cash burn), partially offset by a low-leverage balance sheet. Technicals are supportive with a strong uptrend, but overbought signals raise near-term pullback risk. Valuation provides limited support due to negative earnings and no dividend.
To see Spark’s full report on TSE:PML stock, click here.
More about Panoro Minerals
Panoro Minerals is a Canadian copper exploration and development company focused on advancing its Cotabambas copper-gold-silver project in Peru through technical studies leading toward prefeasibility.
Average Trading Volume: 141,993
Technical Sentiment Signal: Strong Buy
Current Market Cap: C$147.4M
Learn more about PML stock on TipRanks’ Stock Analysis page.