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The latest announcement is out from TomaGold ( (TSE:LOT) ).
TomaGold Corporation has closed an oversubscribed non-brokered flow-through private placement for gross proceeds of about $348,000 through the issuance of more than 5.3 million flow-through shares, with the funds earmarked for eligible Canadian critical mineral exploration expenditures; in connection with the financing, the company paid cash finder’s fees, issued finder’s warrants, and remains subject to final TSX Venture Exchange approval. The company also plans a new non-brokered private placement of up to $150,000 to fund general corporate and working capital needs, and has granted 9.75 million stock options to directors, officers and consultants at $0.065 per share for five years, moves that collectively bolster its exploration budget, liquidity and equity-based incentives as it advances its portfolio of precious and base metal projects.
The most recent analyst rating on (TSE:LOT) stock is a Hold with a C$0.05 price target. To see the full list of analyst forecasts on TomaGold stock, see the TSE:LOT Stock Forecast page.
Spark’s Take on TSE:LOT Stock
According to Spark, TipRanks’ AI Analyst, TSE:LOT is a Neutral.
The score is held down primarily by very weak financial performance (no revenue, ongoing losses/cash burn, and negative equity). Technicals are positive but appear overextended, while corporate events (financings, $1M payment/royalty, and encouraging drill results) provide some offset; valuation remains unattractive due to negative earnings and no dividend.
To see Spark’s full report on TSE:LOT stock, click here.
More about TomaGold
TomaGold Corp. is a Canadian junior mining company focused on acquiring, exploring and developing high-potential precious and base metal projects, primarily gold and copper, in Quebec and Ontario. Its core assets are in the Chibougamau Mining Camp in northern Quebec, including the Obalski gold-copper-silver project and options on 12 additional properties such as the Berrigan Mine, Radar, David and Dufault projects, along with a 24.5% joint venture interest in the Baird gold property near the Red Lake Mining Camp in Ontario and lithium and rare earth element projects in the James Bay region.
Average Trading Volume: 472,070
Technical Sentiment Signal: Buy
Current Market Cap: C$13.19M
See more insights into LOT stock on TipRanks’ Stock Analysis page.