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Ximen Mining ( (TSE:XIM) ) has issued an update.
Ximen Mining Corp. has arranged a non-brokered private placement of 10 million units at $0.05 per unit to raise gross proceeds of $500,000, with each unit comprising one common share and a warrant exercisable at $0.10 for 18 months, subject to TSX Venture Exchange approval and customary hold periods and finder’s fees. The company plans to use the net proceeds to fund exploration on its British Columbia mineral properties and for general working capital, with potential participation from directors and other insiders, underlining its ongoing efforts to advance its portfolio of precious metal assets in a challenging junior mining financing environment.
The most recent analyst rating on (TSE:XIM) stock is a Hold with a C$0.08 price target. To see the full list of analyst forecasts on Ximen Mining stock, see the TSE:XIM Stock Forecast page.
Spark’s Take on TSE:XIM Stock
According to Spark, TipRanks’ AI Analyst, TSE:XIM is a Neutral.
The score is primarily held down by weak financial performance (no revenue, ongoing losses/cash burn, and negative equity). Technicals are mixed with a negative MACD and price still below longer-term averages. Offsetting factors include positive corporate developments (high-grade discovery and project advancement), while valuation is not supportive due to losses and no dividend.
To see Spark’s full report on TSE:XIM stock, click here.
More about Ximen Mining
Ximen Mining Corp. is a Canadian precious metals exploration and development company focused on gold and silver projects in southern British Columbia. It owns 100% of the Amelia Gold Mine and the Brett Epithermal Gold Project, as well as the Treasure Mountain Silver Project adjacent to the past-producing Huldra Silver Mine, which is currently under option, and has acquired control of the Kenville Gold Mine near Nelson, including surface and underground rights, buildings and equipment.
Average Trading Volume: 84,686
Technical Sentiment Signal: Sell
Current Market Cap: C$4.6M
For an in-depth examination of XIM stock, go to TipRanks’ Overview page.