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White Metal Resources ( (TSE:TGOL) ) has issued an update.
Thunder Gold Corp has increased its non-brokered private placement from CDN$1,000,000 to CDN$1,600,000 to fund its exploration drill program and other Canadian exploration expenses. The proceeds will support drilling activities at the company’s Tower Mountain Gold Property, with Phase II drilling underway and expected to complete in mid-July. The placement includes flow-through and non-flow-through units, with securities subject to a hold period and approval by the TSXV. The company is also planning a Phase III drill program for the fall season.
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 with a focus on gold exploration. The company is actively involved in exploration activities at its Tower Mountain Gold Property located in the Shebandowan Greenstone Belt, Ontario.
Average Trading Volume: 89,531
Technical Sentiment Signal: Buy
Current Market Cap: C$12.51M
Learn more about TGOL stock on TipRanks’ Stock Analysis page.