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United Lithium ( (TSE:ULTH) ) just unveiled an update.
United Lithium has successfully closed a $2.25 million non-brokered private placement, issuing 15 million units priced at $0.15 each. The funds will be used for general working capital, exploration, and due diligence related to the proposed acquisition of Swedish Minerals AB. Additionally, Andrew Bowering has been appointed as the Interim CEO, bringing over 30 years of experience in mining and corporate development to lead the company through its next phase of growth.
Spark’s Take on TSE:ULTH Stock
According to Spark, TipRanks’ AI Analyst, TSE:ULTH is a Neutral.
United Lithium’s stock score reflects significant financial and operational challenges, including no revenue and negative cash flow, offset by positive news from mineralogical tests that suggest potential cost savings. The technical analysis also indicates a bearish trend, and the valuation is unappealing due to poor profitability.
To see Spark’s full report on TSE:ULTH stock, click here.
More about United Lithium
United Lithium is an exploration and development company focused on the growing global demand for lithium. It targets lithium projects in politically stable regions with advanced infrastructure, facilitating rapid and cost-effective exploration, development, and production.
Average Trading Volume: 66,029
Technical Sentiment Signal: Buy
Current Market Cap: C$12.41M
Learn more about ULTH stock on TipRanks’ Stock Analysis page.