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Pasofino Gold ( (TSE:VEIN) ) has issued an announcement.
Pasofino Gold has agreed to be acquired by Mansa Resources Limited in an all-cash transaction valuing the company at approximately CAD$141.6 million, with Mansa’s wholly owned subsidiary offering CAD$0.90 per share for all outstanding shares it does not already own. The deal, which provides a significant premium to recent market prices and includes a US$10 million promissory note to fund Pasofino’s interim working capital, has been unanimously recommended by an independent special committee and the board and is backed by shareholders representing about 76% of the company’s equity, reflecting a consensus that the transaction offers the most favourable outcome given prior unsuccessful sale processes and a recent default notice from the Government of Liberia that has constrained the company’s strategic alternatives.
The most recent analyst rating on (TSE:VEIN) stock is a Hold with a C$0.76 price target. To see the full list of analyst forecasts on Pasofino Gold stock, see the TSE:VEIN Stock Forecast page.
Spark’s Take on TSE:VEIN Stock
According to Spark, TipRanks’ AI Analyst, TSE:VEIN is a Neutral.
The score is held down primarily by weak financial performance (no revenue, ongoing losses, negative equity, and continued cash burn). Offsetting this, technical indicators show a stronger trend and positive momentum, while valuation remains unattractive due to negative earnings and no indicated dividend support.
To see Spark’s full report on TSE:VEIN stock, click here.
More about Pasofino Gold
Pasofino Gold Limited is a Toronto-based mining company focused on gold exploration and development, with its primary asset exposure in Liberia governed by a Mineral Development Agreement. The company is listed on the TSX Venture Exchange, OTCQB and Frankfurt Stock Exchange, and has been pursuing strategic options amid regulatory and operational challenges affecting its ability to execute its business plan.
YTD Price Performance: 35.19%
Average Trading Volume: 106,012
Technical Sentiment Signal: Buy
Current Market Cap: C$110.3M
For detailed information about VEIN stock, go to TipRanks’ Stock Analysis page.