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The latest update is out from AbraSilver Resource ( (TSE:ABRA) ).
AbraSilver Resource Corp. announced the successful closing of a bought deal private placement, raising approximately $46.2 million through the issuance of common shares. This funding, alongside a concurrent private placement with Kinross Gold Corporation, will bolster the company’s financial position, enabling it to accelerate development activities at its Diablillos project in Argentina. The proceeds are earmarked for early development expenditures, including infrastructure and exploration programs, positioning AbraSilver for a pivotal year ahead.
The most recent analyst rating on (TSE:ABRA) stock is a Buy with a C$7.50 price target. To see the full list of analyst forecasts on AbraSilver Resource stock, see the TSE:ABRA Stock Forecast page.
Spark’s Take on TSE:ABRA Stock
According to Spark, TipRanks’ AI Analyst, TSE:ABRA is a Neutral.
AbraSilver Resource’s overall score is heavily impacted by its financial struggles, particularly the lack of revenue and negative cash flow. However, strong corporate events and some positive technical indicators provide potential upside. The negative valuation metrics continue to weigh on the overall attractiveness of the stock.
To see Spark’s full report on TSE:ABRA stock, click here.
More about AbraSilver Resource
AbraSilver Resource Corp. is an advanced-stage exploration company focused on the development of its 100%-owned Diablillos silver-gold project located in the mining-friendly Salta province of Argentina. The company boasts a significant mineral resource estimate and is led by an experienced management team with strong shareholder support.
Average Trading Volume: 478,275
Technical Sentiment Signal: Buy
Current Market Cap: C$879M
Find detailed analytics on ABRA stock on TipRanks’ Stock Analysis page.