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The latest announcement is out from Rua Gold ( (TSE:RUA) ).
Rua Gold Inc. has upsized its previously announced non-brokered private placement of common shares to raise up to $8.0 million, increasing the offering from $5.0 million in response to strong investor demand. The proceeds will fund exploration and development at its Reefton and Glamorgan gold projects in New Zealand and support general corporate purposes, underscoring ongoing investor interest in the company’s high-grade gold portfolio and potentially strengthening its position as a leading exploration player in New Zealand, subject to customary regulatory and stock exchange approvals and resale restrictions on the new shares.
The most recent analyst rating on (TSE:RUA) stock is a Hold with a C$1.00 price target. To see the full list of analyst forecasts on Rua Gold stock, see the TSE:RUA Stock Forecast page.
Spark’s Take on TSE:RUA Stock
According to Spark, TipRanks’ AI Analyst, TSE:RUA is a Neutral.
Score is held back primarily by weak financial performance (pre-revenue, sharply widening losses, and significant cash burn despite low debt). Technicals are a meaningful positive with price above major moving averages and supportive momentum, while valuation remains difficult due to negative earnings and no dividend support. Corporate actions improve liquidity and execution capability but are secondary to the funding and commercialization risk.
To see Spark’s full report on TSE:RUA stock, click here.
More about Rua Gold
Rua Gold Inc. is a New Zealand-focused gold exploration company with a team experienced in advancing major discoveries into producing mines globally. The company holds a dominant land position in the historic Reefton Goldfield on New Zealand’s South Island, controlling over 120,000 hectares in a district that has produced more than 2 million ounces of high-grade gold, and it also owns the Glamorgan Project on the North Island’s Hauraki district, adjacent to OceanaGold’s Wharekirauponga project, in a region known for substantial gold and silver production.
Average Trading Volume: 120,618
Technical Sentiment Signal: Buy
Current Market Cap: C$103.2M
For a thorough assessment of RUA stock, go to TipRanks’ Stock Analysis page.