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Tantalex Resources ( (TSE:TTX) ) has provided an announcement.
Tantalex Lithium Resources Corp. has announced that the Ontario Securities Commission has issued a partial revocation of a cease trade order, allowing the company to proceed with a private placement to raise up to C$3,492,910. This move aims to help the company file continuous disclosure documents, cover various fees, and provide working capital until a full revocation of the cease trade order is achieved. The private placement will involve the issuance of up to 232,860,667 common shares at C$0.015 per share, subject to certain conditions and a hold period. The company also notes potential insider participation in the private placement, which would be exempt from certain regulatory requirements.
Spark’s Take on TSE:TTX Stock
According to Spark, TipRanks’ AI Analyst, TSE:TTX is a Underperform.
Tantalex Resources is struggling with significant profitability and solvency issues, reflected in its poor financial performance scores. The technical indicators suggest a neutral to slightly bearish trend, while the valuation metrics indicate a lack of investor appeal due to negative profitability and no dividend yield. These challenges overshadow any potential positive momentum, resulting in a low overall stock score.
To see Spark’s full report on TSE:TTX stock, click here.
More about Tantalex Resources
Tantalex Lithium Resources Corporation is an exploration and development stage mining company focused on the acquisition, exploration, development, and distribution of lithium, tin, tantalum, and other high-tech mineral properties in Africa. The company is currently concentrating on its TiTan tin and tantalum concentrate plant and developing its lithium assets in the Manono area of the Democratic Republic of Congo, including the Manono Lithium Tailings Project and the Pegmatite Corridor Exploration Program.
Average Trading Volume: 178,383
Technical Sentiment Signal: Sell
Current Market Cap: C$13.18M
For a thorough assessment of TTX stock, go to TipRanks’ Stock Analysis page.