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White Metal Resources ( (TSE:TGOL) ) just unveiled an announcement.
Thunder Gold has closed a non-brokered private placement of 25,000,000 units at $0.10 per unit, raising $2.5 million in a financing led by a strategic mining-sector investor. Each unit includes one common share and a half warrant exercisable at $0.15 for 18 months, with proceeds earmarked for exploration and definition drilling at the Tower Mountain Gold Property and for general working capital.
Management says the new funding will allow the company to expand its current drill program by 7,500 metres to a total of about 15,000 metres, supported by a second diamond drill mobilized to the site. The work is intended to advance resource definition and expansion ahead of an updated mineral resource estimate and a planned preliminary economic assessment in late 2026, building on the recently reported indicated and inferred gold resources at Tower Mountain.
The most recent analyst rating on (TSE:TGOL) stock is a Hold with a C$0.16 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 TGOL Stock
According to Spark, TipRanks’ AI Analyst, TGOL is a Neutral.
The score is held back primarily by weak financial performance (no revenue, ongoing losses, and negative free cash flow) despite a low-risk capital structure with no debt. Technicals provide meaningful support with strong trend and positive momentum, but near-overbought signals add risk. Valuation remains constrained by negative earnings and no dividend yield.
To see Spark’s full report on TGOL stock, click here.
More about White Metal Resources
Thunder Gold Corp. is a mineral exploration company focused on advancing its 100%-owned Tower Mountain Gold Property in the Shebandowan Greenstone Belt near Thunder Bay, Ontario. The company targets gold resources through exploration and definition drilling, aiming to grow its mineral resource base in a prolific Canadian mining district.
Average Trading Volume: 581,350
Technical Sentiment Signal: Buy
Current Market Cap: C$37.89M
For detailed information about TGOL stock, go to TipRanks’ Stock Analysis page.