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White Metal Resources ( (TSE:TGOL) ) has shared an announcement.
Thunder Gold Corp. has closed an upsized, non-brokered private placement of flow-through units, raising gross proceeds of $2.15 million after increasing the offering to meet investor demand. The company issued 28.67 million flow-through units at $0.075 each, with attached warrants exercisable at $0.10 for 18 months, and paid approximately $37,905 in finders’ fees, while insider participation triggered related-party transaction rules but remained below thresholds requiring formal valuation or minority approval. All securities issued are subject to a standard hold period and are not registered for sale in the United States, underscoring that the financing is primarily aimed at funding Canadian exploration activities, which could accelerate work at the Tower Mountain Gold Property and support Thunder Gold’s positioning within the junior gold exploration sector.
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. is a junior Canadian exploration company focused on gold discovery, primarily advancing its 100%-owned Tower Mountain Gold Property near Thunder Bay, Ontario. The 2,500-hectare project surrounds a major intrusive complex in the eastern Shebandowan Greenstone Belt, where drilling has outlined extensive anomalous gold mineralization along a significant strike length and to substantial depths, positioning the asset as a compelling early-stage exploration opportunity.
Average Trading Volume: 195,614
Technical Sentiment Signal: Hold
Current Market Cap: C$15.12M
See more insights into TGOL stock on TipRanks’ Stock Analysis page.