Stinger Resources Launches $160,000 Private Placement to Fund Working Capital

Stinger Resources ( (TSE:STNG) ) has issued an update.

Stinger Resources Inc. has announced plans for a non-brokered private placement of up to 3.2 million units at $0.05 per unit, for gross proceeds of up to $160,000, with each unit consisting of one common share and a warrant exercisable at $0.06 for 24 months. The financing, which will be used for general working capital and may include participation by company insiders under MI 61-101 exemptions, is subject to a standard four-month-plus-one-day hold period and underscores the junior explorer’s ongoing efforts to fund its operations and advance its portfolio of precious metals assets in British Columbia.

The most recent analyst rating on (TSE:STNG) stock is a Hold with a C$0.05 price target. To see the full list of analyst forecasts on Stinger Resources stock, see the TSE:STNG Stock Forecast page.

Spark’s Take on TSE:STNG Stock

According to Spark, TipRanks’ AI Analyst, TSE:STNG is a Neutral.

The score is driven primarily by weak financial performance (no revenue, recurring losses, and ongoing cash burn with equity erosion). Technicals add additional pressure with the stock trading below key moving averages and a negative MACD, while valuation provides limited support due to negative earnings and no dividend yield data.

To see Spark’s full report on TSE:STNG stock, click here.

More about Stinger Resources

Stinger Resources Inc. is a Canadian mineral exploration company focused on gold and silver properties in British Columbia. Its portfolio includes the 100%-owned, past-producing Dunwell Mine in the Golden Triangle near Stewart, the Gold Hill property near Fort Steele, the Silver Side property, and an optioned interest in the Ample Goldmax project elsewhere in the province.

Average Trading Volume: 26,823

Technical Sentiment Signal: Sell

Current Market Cap: C$2.98M

For detailed information about STNG stock, go to TipRanks’ Stock Analysis page.