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An update from Sparton Resources ( (TSE:SRI) ) is now available.
Sparton Resources Inc. has received final regulatory approval, including from the TSX Venture Exchange, for its non-brokered private placement, raising total gross proceeds of C$410,000 through the issuance of Critical Metals flow-through share units and non-flow-through units, accompanied by warrants and finder’s fees. The funds will be used exclusively for qualifying Canadian exploration expenditures on the company’s critical metals projects in Ontario and Quebec—particularly the Pense polymetallic project and the Oakes project—where drilling is already under way in Quebec and new geophysical surveys have been completed, signaling an escalation of exploration activity that could advance the company’s project pipeline and potential resource definition after more than two decades of limited work in these areas.
The most recent analyst rating on (TSE:SRI) stock is a Sell with a C$0.02 price target. To see the full list of analyst forecasts on Sparton Resources stock, see the TSE:SRI Stock Forecast page.
Spark’s Take on TSE:SRI Stock
According to Spark, TipRanks’ AI Analyst, TSE:SRI is a Neutral.
The score is primarily held down by weak financial performance (persistent losses and ongoing cash burn) and limited valuation support (negative P/E, no dividend data). Corporate updates around funded exploration provide some offset, while technical indicators are broadly neutral with negative MACD.
To see Spark’s full report on TSE:SRI stock, click here.
More about Sparton Resources
Sparton Resources Inc. is a Canadian mineral exploration company focused on critical metals projects in Ontario and Quebec. Its activities target polymetallic deposits containing zinc, copper, gold, nickel and minor cobalt, with current key properties including the Pense project east of Englehart and the Oakes project near Matachewan, both of which have seen limited modern exploration.
Average Trading Volume: 96,031
Technical Sentiment Signal: Strong Sell
Current Market Cap: C$4.25M
Find detailed analytics on SRI stock on TipRanks’ Stock Analysis page.