Patagonia Gold Secures $40 Million Investment for Calcatreu Project

Patagonia Gold ( (TSE:PGDC) ) just unveiled an announcement.

Patagonia Gold Corp. has completed a US$40 million investment from Black River Mine Inc. into its Calcatreu project in Rio Negro, Argentina. The investment, which involved issuing 40 million preferred shares, will fund the development of the Calcatreu project and related expenses. This transaction, classified as a related party transaction due to the involvement of major shareholder Carlos J. Miguens, received necessary shareholder approval. The Calcatreu project, Patagonia Gold’s flagship project, has significant gold equivalent resources and recently received the final permit for construction and development, marking a critical step forward in its operational progress.

Spark’s Take on TSE:PGDC Stock

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

Patagonia Gold’s overall stock score reflects substantial financial difficulties, with weak income, balance sheet, and cash flow metrics. Despite some technical momentum, valuation concerns due to unprofitability weigh on the stock’s attractiveness.

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

More about Patagonia Gold

Patagonia Gold Corp. is a publicly traded mining company focused on the exploration and development of gold and silver projects in South America, particularly in the Patagonia region of Argentina. The company is listed on the TSXV and primarily focuses on the Calcatreu project in Rio Negro and the Cap-Oeste underground project. Patagonia Gold holds mineral rights to over 400 properties across several provinces in Argentina, making it one of the largest landholders in Santa Cruz province.

Average Trading Volume: 74,467

Technical Sentiment Signal: Buy

Current Market Cap: C$25.58M

Find detailed analytics on PGDC stock on TipRanks’ Stock Analysis page.