Targa Exploration Secures $2.6M for Opinaca Gold Project Drilling

Targa Exploration Corp. ( (TSE:TEX) ) has shared an update.

Targa Exploration Corp. has successfully closed a private placement, raising approximately C$2.6 million. This funding will support the company’s first drilling program at the Opinaca gold project in Quebec, aiming for a new gold discovery. The proceeds will be used for exploration and working capital, with a focus on the 7km-long gold target trend identified through recent sampling. The company is collaborating with Kenorland Minerals as the project operator and plans to commence drilling in the third quarter of 2025.

Spark’s Take on TSE:TEX Stock

According to Spark, TipRanks’ AI Analyst, TSE:TEX is a Underperform.

Targa Exploration Corp.’s financial instability, demonstrated by a lack of revenue and negative cash flow, heavily impacts its stock score. Weak technical indicators and an unattractive valuation further depress the score, suggesting significant risk for potential investors.

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

More about Targa Exploration Corp.

Targa Exploration Corp. is a Canadian exploration company focused on the acquisition, exploration, and development of gold mineral properties. The company is headquartered in Vancouver, British Columbia.

Average Trading Volume: 35,362

Technical Sentiment Signal: Hold

See more insights into TEX stock on TipRanks’ Stock Analysis page.