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The latest update is out from Prismo Metals Inc. ( (TSE:PRIZ) ).
Prismo Metals Inc. has closed an upsized, non-brokered private placement, issuing 2,000,000 units at $0.10 per unit for gross proceeds of $200,000, each unit comprising one common share and a warrant exercisable at $0.175 for 36 months. The financing, which attracted both new investors and existing shareholders increasing their stakes, is intended primarily to fund a fully financed drill program of at least 1,000 meters at the historic Silver King mine site in Arizona, potentially advancing the company’s exploration efforts and adding momentum to its broader project portfolio, while also issuing finder’s warrants and paying cash commissions as part of the transaction.
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 a portfolio of precious and base metals projects, including the Silver King, Ripsey and Hot Breccia projects in Arizona and the Palos Verdes silver project in Mexico, targeting mineralized systems with significant exploration upside.
Average Trading Volume: 218,913
Technical Sentiment Signal: Hold
Current Market Cap: C$13.81M
For an in-depth examination of PRIZ stock, go to TipRanks’ Overview page.