Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Unigold ( (TSE:UGD) ) has issued an update.
Unigold Inc. has closed a non-brokered private placement of 8,167,000 units at $0.18 per unit, raising gross proceeds of $1.47 million to fund continued exploration and development at its Neita Sur concession in the Dominican Republic and for general working capital. Each unit includes one common share and half a warrant exercisable at $0.22 for two years, with the financing subject to a four-month hold period and final TSX Venture Exchange approval.
Company directors Andrés Marranzini and Juana Barcelo subscribed for a combined 7 million units, making the financing a related party transaction under securities rules, though Unigold is relying on available exemptions as the deal represents less than 25% of its market capitalization. The insider participation may be seen as a vote of confidence in the company’s Dominican assets, including the advancing Neita Sur project and the Barrick earn-in at Neita Norte, as Unigold continues to navigate permitting and feasibility stages in the region.
The most recent analyst rating on (TSE:UGD) stock is a Hold with a C$0.22 price target. To see the full list of analyst forecasts on Unigold stock, see the TSE:UGD Stock Forecast page.
Spark’s Take on TSE:UGD Stock
According to Spark, TipRanks’ AI Analyst, TSE:UGD is a Neutral.
The score is primarily held down by weak financial performance (no revenue, continuing losses, and ongoing cash burn despite being debt-free) and a negative P/E tied to lack of profitability. Technicals provide partial support with a price trend above key moving averages and positive MACD, but overbought readings (RSI/Stoch) temper the upside.
To see Spark’s full report on TSE:UGD stock, click here.
More about Unigold
Unigold Inc. is a Canadian mineral exploration company listed on the TSX Venture Exchange and the Frankfurt Stock Exchange, focused on discovering and advancing gold deposits in the Caribbean. Its primary assets are the Candelones gold deposits within the 100%-owned Neita Sur concession and the Neita Norte exploration concession in the Dominican Republic, where it also has an earn-in partnership with Barrick Gold on Neita Norte.
Average Trading Volume: 171,022
Technical Sentiment Signal: Buy
Current Market Cap: C$84.21M
See more insights into UGD stock on TipRanks’ Stock Analysis page.