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San Lorenzo Gold Corp ( (TSE:SLG) ) just unveiled an announcement.
San Lorenzo Gold Corp. has closed two previously announced private placements, raising nearly $20 million through the issuance of units priced at $2.51 and $2.64, each consisting of one common share and half a warrant exercisable at $3.50 for one year. The company also paid cash compensation and issued broker warrants in connection with the financings, with all securities subject to a four-month-plus-one-day hold period and the offerings pending final TSX Venture Exchange acceptance.
Proceeds from the financings will fund continued exploration at San Lorenzo’s flagship Salvadora gold-copper project in Chile and support general working capital needs, including transaction expenses. The capital injection strengthens the company’s ability to advance its multi-target drilling campaign in a highly prospective porphyry belt, potentially enhancing its resource discovery prospects and long-term positioning in the gold and copper exploration space.
The most recent analyst rating on (TSE:SLG) stock is a Hold with a C$2.00 price target. To see the full list of analyst forecasts on San Lorenzo Gold Corp stock, see the TSE:SLG Stock Forecast page.
Spark’s Take on TSE:SLG Stock
According to Spark, TipRanks’ AI Analyst, TSE:SLG is a Neutral.
The score is held down primarily by weak financial performance (pre-revenue profile, ongoing losses, and negative cash flow with increasing debt). Technicals provide some support due to strong trend and positive MACD, but extremely overbought RSI/Stoch limit upside confidence. Valuation remains unattractive/unclear because earnings are negative and there is no dividend yield.
To see Spark’s full report on TSE:SLG stock, click here.
More about San Lorenzo Gold Corp
San Lorenzo Gold Corp. is a Calgary-based mineral exploration company focused on advancing its flagship Salvadora property in Chile’s mega-porphyry belt. The company is conducting a phase 6 drilling program on two of five identified targets, building on previous drilling that suggests the presence of significant gold- and copper-enriched epithermal and porphyry-style systems.
Average Trading Volume: 313,643
Technical Sentiment Signal: Buy
Current Market Cap: C$257.3M
Learn more about SLG stock on TipRanks’ Stock Analysis page.