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An announcement from Scottie Resources Corp ( (TSE:SCOT) ) is now available.
Scottie Resources Corp. has successfully closed the second tranche of its non-brokered private placement financing, raising $3,300,620.40 through the sale of common shares. The total proceeds from the first two tranches amount to $11,686,984.30, which will be used for development activities, study work, permitting, and general corporate purposes. This financing strengthens Scottie’s financial position as it continues to expand its exploration and development efforts in the Golden Triangle, potentially enhancing its market position and offering opportunities for stakeholders.
Spark’s Take on TSE:SCOT Stock
According to Spark, TipRanks’ AI Analyst, TSE:SCOT is a Neutral.
Scottie Resources Corp’s stock score reflects the company’s challenging financial performance, with no operational revenue and ongoing losses. While the absence of debt and recent positive corporate developments provide some support, these factors are overshadowed by the bearish technical indicators and negative valuation metrics. The new project launch offers a glimmer of hope but requires successful execution to positively impact the stock.
To see Spark’s full report on TSE:SCOT stock, click here.
More about Scottie Resources Corp
Scottie Resources Corp. is a mining company focused on gold exploration and development. It owns a 100% interest in several properties, including the Scottie Gold Mine Property and the Georgia Project, located in the Golden Triangle of British Columbia, a region known for its rich mineral deposits.
Average Trading Volume: 59,381
Technical Sentiment Signal: Buy
Current Market Cap: C$54.47M
See more data about SCOT stock on TipRanks’ Stock Analysis page.