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Prismo Metals Inc. ( (TSE:PRIZ) ) just unveiled an announcement.
Prismo Metals Inc. has closed an upsized, non-brokered private placement, issuing 2,940,000 units at $0.10 each for additional gross proceeds of $294,000, bringing total funds raised in the multi-tranche financing to $2,204,000 from 22,040,000 units. The capital, raised largely from new shareholders, will primarily finance a fully funded drilling campaign of at least 1,000 metres at the historic Silver King mine site in Arizona, where the company aims to test the upper portion of a steeply dipping pipelike mineralized body and surrounding stockwork zones, while a portion of proceeds will go to general corporate purposes; the placement includes common share purchase warrants, finder’s warrants and commissions, and is subject to standard hold periods under Canadian securities laws.
The most recent analyst rating on (TSE:PRIZ) stock is a Hold with a C$0.12 price target. To see the full list of analyst forecasts on Prismo Metals Inc. stock, see the TSE:PRIZ Stock Forecast page.
Spark’s Take on TSE:PRIZ Stock
According to Spark, TipRanks’ AI Analyst, TSE:PRIZ is a Neutral.
The score is held back mainly by weak financial performance (no revenue, ongoing losses, and negative cash flow), partly offset by a clean, low-debt balance sheet. Technicals are moderately supportive with price above key moving averages and a positive MACD, while valuation is limited by negative earnings and no dividend. Corporate events are a modest positive due to encouraging assay results and secured funding, though dilution risk remains.
To see Spark’s full report on TSE:PRIZ stock, click here.
More about Prismo Metals Inc.
Prismo Metals Inc. is a mining exploration company focused on advancing its Silver King, Ripsey and Hot Breccia projects in Arizona and its Palos Verdes silver project in Mexico, targeting precious and base metal mineralization through early-stage and advanced exploration programs.
Average Trading Volume: 204,554
Technical Sentiment Signal: Hold
Current Market Cap: C$12.75M
For a thorough assessment of PRIZ stock, go to TipRanks’ Stock Analysis page.