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Waraba Gold Limited ( (TSE:WBGD) ) has issued an announcement.
Waraba Gold Limited has closed an upsized non-brokered private placement, issuing 15 million units at $0.30 per unit to raise $4.5 million, above its original $4 million target. Each unit comprises one common share and one warrant exercisable at $0.45 until April 2028, with all securities subject to a standard four-month-plus-one-day hold period.
The company plans to use the proceeds to fund commitments under its Ivory Coast exploration earn-in arrangements and for general working capital, bolstering its financial position for ongoing projects. Several directors and officers participated in the financing, triggering related-party transaction rules, but Waraba relied on exemptions from formal valuation and minority approval as insider participation remained below 25% of its market capitalization.
The most recent analyst rating on (TSE:WBGD) stock is a Hold with a C$0.57 price target. To see the full list of analyst forecasts on Waraba Gold Limited stock, see the TSE:WBGD Stock Forecast page.
Spark’s Take on WBGD Stock
According to Spark, TipRanks’ AI Analyst, WBGD is a Neutral.
The score is held down primarily by very weak financial fundamentals (no revenue, large losses, sustained cash burn, and negative equity with rising debt). Technical indicators are notably stronger and provide support in the near term, but valuation is still challenged by ongoing losses and lack of dividend support.
To see Spark’s full report on WBGD stock, click here.
More about Waraba Gold Limited
Waraba Gold Limited is a resource exploration company focused on acquiring and exploring mineral properties. The company is a reporting issuer in British Columbia and Alberta, with its common shares listed on the Canadian Securities Exchange under the symbol WBGD and on the Frankfurt Stock Exchange under the symbol ZE00.
Average Trading Volume: 26,700
Technical Sentiment Signal: Buy
Current Market Cap: C$4.68M
See more insights into WBGD stock on TipRanks’ Stock Analysis page.