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Panoro Minerals ( (TSE:PML) ) has provided an announcement.
Panoro Minerals Ltd. has updated the terms of its previously announced brokered private placement, filing a new offering document for the sale of up to 1.3 million units at C$0.40 per unit, for additional gross proceeds of up to C$520,000, with Red Cloud Securities acting as lead agent and sole bookrunner. Together with a previously closed first tranche that raised C$2.92 million and an agents’ option for up to a further 260,000 units, the offering is expected to fund infill drilling, metallurgical testing, pre-feasibility engineering and an updated preliminary economic assessment at the company’s Cotabambas Copper-Gold-Silver project, as well as working capital and general corporate purposes, potentially advancing the project’s development profile and Panoro’s positioning in the copper-gold-silver exploration space.
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 Toronto Venture Exchange-listed mineral exploration and development company focused on advancing copper, gold and silver projects, notably the Cotabambas Copper-Gold-Silver project in Peru. The company’s activities center on resource drilling, metallurgical testing and engineering studies aimed at advancing its projects through key economic assessment stages and enhancing their attractiveness to potential partners or acquirers in the base and precious metals sector.
Average Trading Volume: 127,036
Technical Sentiment Signal: Hold
Current Market Cap: C$87.32M
Find detailed analytics on PML stock on TipRanks’ Stock Analysis page.