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White Metal Resources ( (TSE:TGOL) ) has provided an announcement.
Thunder Gold Corp. has launched a non-brokered private placement of 25,000,000 units at $0.10 per unit to raise $2.5 million, each unit comprising one common share and half a warrant exercisable at $0.15 for 18 months. The financing, expected to close in mid-March subject to TSX Venture Exchange approval, may include customary finders’ fees and will be subject to a standard four-month hold period on issued securities.
Proceeds will be directed to ongoing exploration and definition drilling at the Tower Mountain Gold Property, with a focus on upgrading inferred resources to measured and indicated ahead of an updated mineral resource estimate and initial scoping study planned for late 2026. The company also intends to advance environmental baseline work at the site, signalling a move toward more advanced project evaluation and potentially enhancing the asset’s long-term development prospects.
The most recent analyst rating on (TSE:TGOL) stock is a Hold with a C$0.13 price target. To see the full list of analyst forecasts on White Metal Resources stock, see the TSE:TGOL Stock Forecast page.
Spark’s Take on TSE:TGOL Stock
According to Spark, TipRanks’ AI Analyst, TSE:TGOL is a Neutral.
The score is held down primarily by weak financial performance (no revenue, recurring losses, and negative free cash flow), despite a low-risk capital structure with no debt. Technicals are a notable positive with a strong uptrend, but valuation remains constrained by loss-making fundamentals.
To see Spark’s full report on TSE:TGOL stock, click here.
More about White Metal Resources
Thunder Gold Corp. is a junior Canadian exploration company focused on gold discovery, centred on its 100%-owned Tower Mountain Gold Property near Thunder Bay, Ontario. The 2,100-hectare project sits in the Shebandowan Greenstone Belt, where gold mineralization is associated with an intrusive complex offering significant exploration potential.
Average Trading Volume: 415,506
Technical Sentiment Signal: Buy
Current Market Cap: C$36.49M
Learn more about TGOL stock on TipRanks’ Stock Analysis page.