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Volcanic Gold Mines Inc ( (TSE:VG) ) has shared an announcement.
Volcanic Gold Mines Inc. has successfully completed an upsized non-brokered private placement, raising $1.66 million. The funds will be used to resume exploration activities on the Holly Property in Guatemala and for general working capital. This move is expected to enhance the company’s exploration capabilities and strengthen its position in the gold-silver mining industry.
Spark’s Take on TSE:VG Stock
According to Spark, TipRanks’ AI Analyst, TSE:VG is a Underperform.
Volcanic Gold Mines Inc faces significant financial hurdles with zero revenue and increasing losses, which are critical concerns. However, positive corporate developments in exploration and favorable technical indicators provide some optimism. Despite this, the high-risk valuation due to unprofitability and unstable financial health keeps the overall score low.
To see Spark’s full report on TSE:VG stock, click here.
More about Volcanic Gold Mines Inc
Volcanic Gold Mines Inc. is a company focused on building multi-million-ounce gold and silver resources in underexplored countries. They achieve this through strategic acquisition of mineral properties with potential for hosting gold and silver resources, and by conducting effective exploration and drill programs.
Average Trading Volume: 37,698
Technical Sentiment Signal: Buy
Current Market Cap: C$8.2M
For detailed information about VG stock, go to TipRanks’ Stock Analysis page.