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Waraba Gold Limited ( (TSE:WBGD) ) just unveiled an announcement.
Waraba Gold Limited has increased its previously announced private placement from $1.5 million to up to $2.5 million, issuing shares and pre-funded warrants at $0.07 per security, with proceeds earmarked primarily to fund obligations under its Ivory Coast project earn-in agreements and to bolster working capital. The company has closed an initial tranche raising approximately $1.5 million, including the settlement of $350,000 of debt through equity and pre-funded warrants, issued an additional US$100,000 debenture to an arm’s-length investor, and facilitated insider participation via pre-funded warrants under financial-hardship exemptions, moves that collectively improve liquidity while subjecting warrant exercises and insider participation to disinterested shareholder approval and standard resale restrictions.
The most recent analyst rating on (TSE:WBGD) stock is a Hold with a C$0.17 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 TSE:WBGD Stock
According to Spark, TipRanks’ AI Analyst, TSE:WBGD is a Neutral.
The score is driven down primarily by very weak financial performance (no revenue, large losses, ongoing cash burn, and negative equity with rising debt). Technicals provide a partial offset due to recent price strength versus moving averages, but overbought RSI and limited MACD support temper the signal. Valuation remains unfavorable because the company is loss-making and offers no dividend support.
To see Spark’s full report on TSE:WBGD stock, click here.
More about Waraba Gold Limited
Waraba Gold Limited is a Canadian-listed gold exploration and development company with projects in West Africa, including earn-in arrangements on gold assets in Ivory Coast. The company focuses on advancing these exploration projects while securing financing through equity, warrants and debenture issuances to support project commitments and general working capital needs.
Average Trading Volume: 11,892
Technical Sentiment Signal: Sell
Current Market Cap: C$1.54M
See more insights into WBGD stock on TipRanks’ Stock Analysis page.