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An announcement from Steadright Critical Minerals, Inc. ( (TSE:SCM) ) is now available.
Steadright Critical Minerals Inc. has successfully closed the final tranche of its non-brokered private placement, raising a total of C$910,000. The funds will be used for general working capital, corporate purposes, and eligible Canadian exploration expenses. The offering involved the issuance of common shares and warrants, with certain insiders participating, and is subject to regulatory approval.
Spark’s Take on TSE:SCM Stock
According to Spark, TipRanks’ AI Analyst, TSE:SCM is a Underperform.
Steadright Critical Minerals, Inc. exhibits severe financial weaknesses, with no revenue, negative equity, and poor cash flow management. Technical analysis suggests overbought conditions, which could lead to a price correction. Valuation is challenging due to the absence of earnings, contributing to a low overall score.
To see Spark’s full report on TSE:SCM stock, click here.
More about Steadright Critical Minerals, Inc.
Steadright Critical Minerals Inc. is a mineral exploration company founded in 2019, focusing on projects within the critical mineral space. The company holds an option on the RAM property near Port Cartier, Quebec, which is rich in Ni, Cu, Co, and precious metals.
Average Trading Volume: 87,017
Technical Sentiment Signal: Strong Buy
Learn more about SCM stock on TipRanks’ Stock Analysis page.