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White Metal Resources ( (TSE:TGOL) ) has shared an update.
Thunder Gold Corp has announced a non-brokered private placement aiming to raise up to C$1 million through the sale of flow-through and non-flow-through units. The funds are intended to support the company’s exploration program at its Tower Mountain Gold Property. This initiative is expected to enhance the company’s gold mineralization footprint and involves a Phase II drill program targeting specific areas with high potential for gold discovery. The private placement is subject to TSXV approval and includes potential finder fees for eligible parties.
Spark’s Take on TSE:TGOL Stock
According to Spark, TipRanks’ AI Analyst, TSE:TGOL is a Neutral.
The overall score reflects significant financial performance challenges, particularly the lack of revenue and negative cash flows. Positive corporate events and mixed technical indicators slightly offset these weaknesses. However, the negative valuation metrics and lack of earnings guidance remain key concerns. The company’s strategic initiatives could improve its market position if successful, but financial sustainability issues are predominant.
To see Spark’s full report on TSE:TGOL stock, click here.
More about White Metal Resources
Thunder Gold Corp, formerly known as White Metal Resources Corp, operates in the mining industry, focusing on gold exploration. The company owns the Tower Mountain Gold Property located in the Shebandowan Greenstone Belt near Thunder Bay, Ontario.
Average Trading Volume: 109,572
Technical Sentiment Signal: Buy
Current Market Cap: C$12.51M
See more data about TGOL stock on TipRanks’ Stock Analysis page.