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The latest update is out from Unigold ( (TSE:UGD) ).
Unigold Inc. has successfully completed a non-brokered private placement, raising $1,568,000 through the issuance of 19,600,000 units. The funds will be used to advance permitting and development at the Neita Sur Concession and for general working capital. The transaction involved insider participation, which is considered a related party transaction under regulatory guidelines, but the company has relied on exemptions from certain requirements. Additionally, all resolutions at the company’s Annual General and Special Meeting of Shareholders were passed, including the election of directors and approval of the Share Incentive Plan.
Spark’s Take on TSE:UGD Stock
According to Spark, TipRanks’ AI Analyst, TSE:UGD is a Underperform.
Unigold’s overall stock score is low due to significant financial challenges, including negative earnings and cash flows, and a declining equity position. While technical analysis shows some positive momentum, the lack of profitability and poor valuation metrics weigh heavily on the overall score.
To see Spark’s full report on TSE:UGD stock, click here.
More about Unigold
Unigold Inc. operates in the mining industry, focusing on the exploration and development of mineral properties. The company’s primary operations are centered on its Neita Sur Concession in the Dominican Republic.
Average Trading Volume: 168,137
Technical Sentiment Signal: Buy
Current Market Cap: C$41.96M
For a thorough assessment of UGD stock, go to TipRanks’ Stock Analysis page.