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Group Ten Metals ( (TSE:PGE) ) just unveiled an announcement.
Stillwater Critical Minerals has announced a bought deal private placement agreement with Red Cloud Securities and Research Capital Corporation to raise gross proceeds of C$10 million. The funds will be used for the exploration and advancement of the Stillwater West project and general corporate purposes. The offering includes the sale of 21,740,000 units, each consisting of one common share and one-half of a common share purchase warrant, with the potential for additional proceeds through an over-allotment option. This financing move is expected to bolster Stillwater’s operational capabilities and enhance its position in the critical minerals market.
Spark’s Take on TSE:PGE Stock
According to Spark, TipRanks’ AI Analyst, TSE:PGE is a Neutral.
Group Ten Metals faces significant financial challenges with no revenue and sustained losses, heavily impacting its stock score. Despite this, technical indicators suggest bullish momentum, and corporate strategies align well with national policies, potentially supporting future growth if financial health improves.
To see Spark’s full report on TSE:PGE stock, click here.
More about Group Ten Metals
Stillwater Critical Minerals is a mineral exploration and development company primarily focused on its flagship Stillwater West Ni-PGE-Cu-Co+Au project located in the Stillwater mining district in Montana, U.S. The company is involved in the exploration and advancement of critical minerals, including nickel, platinum group elements, copper, cobalt, and gold.
Average Trading Volume: 778,925
Technical Sentiment Signal: Buy
Current Market Cap: C$139.4M
See more insights into PGE stock on TipRanks’ Stock Analysis page.