Xali Gold Launches C$1.5 Million Private Placement for Pico Machay Project

Xali Gold Corp. ( (TSE:XGC) ) just unveiled an update.

Xali Gold Corp. has announced a non-brokered private placement to raise approximately C$1.5 million to support its focus on the Pico Machay gold project in Peru. The funds will primarily be used for the acquisition and exploration of Pico Machay, with the remainder allocated to general corporate purposes. The private placement is subject to TSX Venture Exchange approval and may be increased if demand exceeds the available units.

Spark’s Take on TSE:XGC Stock

According to Spark, TipRanks’ AI Analyst, TSE:XGC is a Underperform.

Xali Gold Corp.’s stock score is low due to significant financial instability, including zero revenue and high leverage. Technical indicators show neutral momentum, while valuation metrics are unfavorable. Recent corporate events indicate potential for exploration and strategic growth, but the current financial position heavily weighs down the overall score.

To see Spark’s full report on TSE:XGC stock, click here.

More about Xali Gold Corp.

Xali Gold is a gold and silver exploration company focused on advancing opportunities in the Americas. The company is primarily engaged in the acquisition, exploration, and development of the Pico Machay gold project in South America, with a near-term production goal. Additionally, Xali Gold holds exploration potential and two royalty agreements in Mexico’s El Oro gold-silver project.

Average Trading Volume: 316,612

Technical Sentiment Signal: Strong Buy

Current Market Cap: C$14.26M

See more data about XGC stock on TipRanks’ Stock Analysis page.