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Sparton Resources ( (TSE:SRI) ) has provided an update.
Sparton Resources Inc. has successfully completed its non-brokered private placement offering, raising a total of C$410,000. The proceeds will be used for exploration activities in Ontario, particularly on the Pense polymetallic metals project, and for general corporate purposes. The company has also issued incentive options to its directors, officers, and consultants, and is progressing with drilling activities and geophysical surveys on its Quebec Pense Project claims.
Spark’s Take on TSE:SRI Stock
According to Spark, TipRanks’ AI Analyst, TSE:SRI is a Underperform.
Sparton Resources is currently facing significant financial and operational challenges, reflected in its poor financial performance and unattractive valuation metrics. Technical indicators do not show significant positive momentum. Immediate strategic changes are vital to improve financial health and investor confidence.
To see Spark’s full report on TSE:SRI stock, click here.
More about Sparton Resources
Sparton Resources Inc. operates in the mining industry, focusing on the exploration and development of critical metals projects. The company is primarily engaged in resource exploration activities, with a market focus on polymetallic metals projects in Ontario, Canada.
Average Trading Volume: 101,190
Technical Sentiment Signal: Sell
Current Market Cap: C$5.1M
See more data about SRI stock on TipRanks’ Stock Analysis page.