Trigon Metals Secures Additional Funding for Kombat Mine Operations

Trigon Metals Inc ( (TSE:TM) ) has issued an update.

Trigon Metals Inc. has amended its loan agreement with Horizon Corporation Limited to secure additional funding of up to USD$7.2 million for the Kombat Mine in Namibia. This financial support, provided in monthly tranches, will ensure operational continuity at the mine during the transition period leading up to the proposed sale of Trigon’s interest in the mine to Horizon. The amendment releases Trigon from debt obligations upon completion of the transaction, allowing the company to maintain its operational momentum and support its workforce.

The most recent analyst rating on (TSE:TM) stock is a Buy with a C$3.50 price target. To see the full list of analyst forecasts on Trigon Metals Inc stock, see the TSE:TM Stock Forecast page.

Spark’s Take on TSE:TM Stock

According to Spark, TipRanks’ AI Analyst, TSE:TM is a Underperform.

Trigon Metals Inc faces significant financial instability, with negative profitability and high leverage, impacting its overall stock score. Technical analysis indicates a bearish trend, while the valuation suffers due to a negative P/E ratio and no dividend yield. Although corporate events suggest potential strategic shifts providing financial flexibility, operational challenges pose risks. The overall score reflects these significant challenges, suggesting caution for potential investors.

To see Spark’s full report on TSE:TM stock, click here.

More about Trigon Metals Inc

Trigon Metals Inc. is a Canadian exploration and development company focused on copper and silver mining in Africa. The company operates the Kalahari Copperbelt Project in Namibia and is advancing two exploration projects in Morocco, Addana and Silver Hill.

Average Trading Volume: 61,793

Technical Sentiment Signal: Sell

Current Market Cap: C$13.89M

For a thorough assessment of TM stock, go to TipRanks’ Stock Analysis page.