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Rua Gold ( (TSE:RUA) ) just unveiled an update.
Rua Gold Inc. successfully closed an oversubscribed brokered offering, raising C$13.8 million, including the full exercise of the over-allotment option. This funding, achieved without dilutive warrants or significant discounts, secures the company’s financial position for 12 to 18 months, allowing it to pursue aggressive exploration in New Zealand. The inclusion of a 9.9% cornerstone investor strengthens Rua Gold’s support base, enabling continued drilling at the Reefton Project and the commencement of drilling at the Glamorgan Project by Q4 2025. The offering was completed with the assistance of Cormark Securities Inc., Red Cloud Securities Inc., and Beacon Securities Limited, and remains subject to final acceptance by the TSX Venture Exchange.
Spark’s Take on TSE:RUA Stock
According to Spark, TipRanks’ AI Analyst, TSE:RUA is a Underperform.
Rua Gold’s financial struggles are a major concern, with no revenue and dependence on external financing. Technical analysis also reflects a negative outlook, despite being oversold. However, promising corporate events involving significant resource discoveries offer potential upside and strategic positioning, which partially offsets the poor financial and technical scores.
To see Spark’s full report on TSE:RUA stock, click here.
More about Rua Gold
Rua Gold Inc. operates in the mining industry, focusing on gold exploration and development. The company is primarily engaged in aggressive exploration projects in New Zealand, with key projects on the South and North Islands, namely the Reefton and Glamorgan Projects.
Average Trading Volume: 91,989
Technical Sentiment Signal: Sell
Current Market Cap: C$40.11M
For an in-depth examination of RUA stock, go to TipRanks’ Overview page.