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Scottie Resources Corp ( (TSE:SCOT) ) has issued an update.
Scottie Resources Corp. has announced a $16.8 million non-brokered private placement financing to support its exploration and development activities. The funds will be used for Canadian exploration expenses related to the Scottie Gold Mine Project and other corporate purposes, potentially strengthening Scottie’s position in the prolific Golden Triangle mining district.
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 that holds a 100% interest in several properties, including the Scottie Gold Mine Property, the Georgia Project, and the Cambria Project, located in the Golden Triangle of British Columbia. The company focuses on expanding mineralization around past-producing mines and advancing high-grade gold targets to produce a high-margin direct shipping ore product.
Average Trading Volume: 40,309
Technical Sentiment Signal: Sell
Current Market Cap: C$44.97M
Learn more about SCOT stock on TipRanks’ Stock Analysis page.