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Quebec Precious Metals Corp ( (TSE:QPM) ) has provided an announcement.
Quebec Precious Metals Corporation announced that its shareholders have approved a plan of arrangement with Fury Gold Mines Limited, where Fury will acquire all outstanding QPM shares. The transaction, which values each QPM share at C$0.04, is expected to be completed by April 28, 2025, pending final court approval and customary closing conditions. This acquisition will lead to the delisting of QPM shares from the TSX Venture Exchange and the Frankfurt Stock Exchange, potentially enhancing Fury’s position in the Canadian mining industry.
Spark’s Take on TSE:QPM Stock
According to Spark, TipRanks’ AI Analyst, TSE:QPM is a Underperform.
Quebec Precious Metals Corp shows significant financial challenges with no revenue and reliance on external financing. However, the recent acquisition by Fury Gold Mines is a positive strategic move, potentially offering synergies and cost savings. Technical indicators suggest neutral momentum, while the valuation remains speculative.
To see Spark’s full report on TSE:QPM stock, click here.
More about Quebec Precious Metals Corp
Quebec Precious Metals Corporation (QPM) holds a significant land position in the Eeyou Istchee James Bay territory in Quebec, near the Éléonore gold mine. The company focuses on exploration and development within this highly prospective region.
YTD Price Performance: 33.33%
Average Trading Volume: 190,604
Technical Sentiment Signal: Buy
Current Market Cap: C$4.15M
For an in-depth examination of QPM stock, go to TipRanks’ Stock Analysis page.