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Peloton Minerals ( (TSE:PMC) ) has issued an update.
Peloton Minerals Corporation has closed a third tranche of its non-brokered private placement, raising C$134,100 through the issuance of 1,490,000 units at C$0.09 each, for total proceeds of just over C$1.17 million under the current financing terms. Each unit comprises one common share and one warrant exercisable at C$0.12, with additional broker warrants issued as compensation, and the proceeds earmarked for lithium exploration at the company’s North Elko Lithium Project in northern Nevada and for general working capital, reinforcing Peloton’s focus on battery metals as it awaits assay results from its recently completed maiden drilling program.
The most recent analyst rating on (TSE:PMC) stock is a Hold with a C$0.12 price target. To see the full list of analyst forecasts on Peloton Minerals stock, see the TSE:PMC Stock Forecast page.
Spark’s Take on TSE:PMC Stock
According to Spark, TipRanks’ AI Analyst, TSE:PMC is a Neutral.
The score is held back primarily by weak financial performance (pre-revenue operations, ongoing cash burn, and negative equity). Technicals are comparatively supportive with price strength versus moving averages and positive MACD, while valuation remains less attractive with a high P/E given fundamentals. Recent corporate events are positive for exploration progress and funding, but dependence on financing remains a key risk.
To see Spark’s full report on TSE:PMC stock, click here.
More about Peloton Minerals
Peloton Minerals Corporation is a Canadian-listed mineral exploration company focused on lithium, gold, uranium, critical and rare earth minerals, and copper. Its portfolio includes a 100% interest in the North Elko Lithium Project and two Carlin-style gold projects in northeastern Nevada, as well as a non-controlling stake in a copper porphyry project near Butte, Montana. The company’s shares trade on the Canadian Securities Exchange and the OTCQB in the United States.
Average Trading Volume: 67,800
Technical Sentiment Signal: Buy
Current Market Cap: C$18.03M
For detailed information about PMC stock, go to TipRanks’ Stock Analysis page.