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RosCan Gold ( (TSE:ROS) ) has provided an update.
Roscan Gold Corporation has closed a non-brokered private placement of secured subordinate promissory notes totaling approximately C$1.5 million, with proceeds earmarked for general corporate and working capital purposes. The two-year notes, bearing interest at 12% and convertible into common shares at C$0.15 per share, are secured by a general security agreement and subject to a standard four-month hold period, while a significant portion was subscribed by an insider under related-party transaction rules, underscoring continued insider support as the company funds its exploration activities in West Africa.
Spark’s Take on TSE:ROS Stock
According to Spark, TipRanks’ AI Analyst, TSE:ROS is a Underperform.
RosCan Gold’s stock score is primarily hindered by its weak financial performance, characterized by zero revenue, consistent losses, and reliance on financing. Although the technical indicators suggest weak momentum, a positive corporate event in Mali offers some potential upside. Valuation concerns remain due to a negative P/E ratio and no dividend yield.
To see Spark’s full report on TSE:ROS stock, click here.
More about RosCan Gold
Roscan Gold Corporation is a Canadian gold exploration company focused on exploring and acquiring gold properties in West Africa. The company controls a sizable land package of 100%-owned permits in West Mali’s Kandiole area, strategically located among producing gold mines and major deposits, including adjacent to B2Gold’s Fekola Mine.
Average Trading Volume: 321,385
Technical Sentiment Signal: Buy
Current Market Cap: C$74.55M
For a thorough assessment of ROS stock, go to TipRanks’ Stock Analysis page.