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The latest announcement is out from Zephyr Minerals ( (TSE:ZFR) ).
Zephyr Minerals has increased the size of its previously announced non-brokered private placement to 5.2 million units at $0.05 per unit, for potential gross proceeds of up to $260,000, with each unit comprising one common share and a two-year warrant exercisable at $0.10. The financing, which may include insider participation and finder’s fees and remains subject to TSX Venture Exchange approval, will be used for working capital and to advance permitting at the high-grade Dawson Gold project in Colorado, supporting the company’s strategy to move the deposit toward production amid stronger gold prices and significant exploration upside around the existing resource.
The most recent analyst rating on (TSE:ZFR) stock is a Hold with a C$0.05 price target. To see the full list of analyst forecasts on Zephyr Minerals stock, see the TSE:ZFR Stock Forecast page.
Spark’s Take on TSE:ZFR Stock
According to Spark, TipRanks’ AI Analyst, TSE:ZFR is a Neutral.
The score is held back primarily by the lack of revenue, continued losses, and ongoing cash burn, which create high execution and financing risk. Offsetting this is a comparatively strong, low-leverage balance sheet. Technicals are broadly neutral and valuation is constrained by negative earnings and no dividend support.
To see Spark’s full report on TSE:ZFR stock, click here.
More about Zephyr Minerals
Zephyr Minerals Ltd. is a junior mining company focused on securing a mining permit for its 100%-owned Dawson Gold property in Colorado, which hosts an inferred high-grade gold resource supported by a prior economic assessment indicating robust project economics at lower historical gold prices. The company also has prospective exposure to gold and lithium in Zimbabwe, where it is awaiting government approval of two Exclusive Prospecting Orders covering 124,000 hectares, and benefits at Dawson from year-round operating conditions, nearby infrastructure, and a compact underground mine footprint on land it owns or controls.
Average Trading Volume: 31,381
Technical Sentiment Signal: Buy
Current Market Cap: C$4.78M
For detailed information about ZFR stock, go to TipRanks’ Stock Analysis page.