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Apollo Gold ( (TSE:APGO) ) has provided an update.
Apollo Silver Corp. has successfully closed the initial $25 million tranche of its upsized non-brokered private placement, raising gross proceeds through the issuance of units comprising common shares and warrants. The funds will be used to advance the Calico Silver Project in California, support community initiatives in Mexico, and cover property maintenance and corporate expenses. The participation of company insiders in the offering highlights a related party transaction, while the securities are subject to a four-month hold period and require final TSXV approval.
Spark’s Take on TSE:APGO Stock
According to Spark, TipRanks’ AI Analyst, TSE:APGO is a Underperform.
Apollo Gold’s overall stock score reflects significant financial challenges, notably the lack of revenue and persistent losses. While technical indicators show some positive trends, they are offset by poor valuation metrics. Recent corporate events suggest strategic improvements, yet their immediate impact remains uncertain.
To see Spark’s full report on TSE:APGO stock, click here.
More about Apollo Gold
Apollo Silver Corp. is advancing one of the largest undeveloped primary silver projects in the US, focusing on the Calico project which hosts a significant silver deposit with barite and zinc credits. The company also has an option on the Cinco de Mayo Project in Mexico, known for its high-grade carbonate replacement deposit. Led by an experienced management team, Apollo is positioned to deliver value through exploration and development.
Average Trading Volume: 204,241
Technical Sentiment Signal: Buy
Current Market Cap: C$194.6M
See more data about APGO stock on TipRanks’ Stock Analysis page.