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Pasinex Resources ( (TSE:PSE) ) has issued an announcement.
Pasinex Resources has announced a non-brokered private placement to raise approximately CDN $2,150,000, with CDN $500,000 already committed. The funds will be used to purchase the Sarikaya mine property in Türkiye and initiate mining operations. The company emphasizes its strong track record in high-grade zinc mining, highlighting the economic benefits and ESG principles it adheres to. The acquisition of Sarikaya, with its high-grade zinc potential, is expected to enhance Pasinex’s portfolio and profitability, with operations anticipated to begin within the first year of production.
Spark’s Take on TSE:PSE Stock
According to Spark, TipRanks’ AI Analyst, TSE:PSE is a Underperform.
Pasinex Resources is under severe financial pressure with no revenue and high leverage, which are significant red flags. Strong technical indicators provide some short-term price momentum, but the negative valuation and financial performance outweigh these positive signals, resulting in a low overall score.
To see Spark’s full report on TSE:PSE stock, click here.
More about Pasinex Resources
Pasinex Resources Limited is a Toronto-based mining company focused on zinc production. Through its subsidiary, Pasinex Arama ve Madencilik Anonim Sirketi, the company owns 50% of Horzum Maden Arama ve Isletme Anonim Sirketi, which operates the Pinargozu high-grade zinc mine in Türkiye, selling directly to zinc smelters and refiners.
Average Trading Volume: 45,640
Technical Sentiment Signal: Buy
Current Market Cap: C$9.4M
Find detailed analytics on PSE stock on TipRanks’ Stock Analysis page.