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BeMetals ( (TSE:BMET) ) has provided an announcement.
BeMetals Corp. has successfully closed a non-brokered private placement, raising C$848,840 through the issuance of flow-through shares. The funds will be used for exploration activities at the Savant Gold Project in Ontario, Canada. The company plans to conduct a high-resolution airborne magnetics survey and a follow-up exploration campaign to identify drilling targets. The participation of company directors in the financing round constitutes a related party transaction under Canadian securities laws.
Spark’s Take on TSE:BMET Stock
According to Spark, TipRanks’ AI Analyst, TSE:BMET is a Underperform.
BeMetals’ overall stock score reflects its significant financial difficulties, with zero revenue and a reliance on external funding. The technical analysis shows a neutral trend, while the valuation remains unattractive due to negative earnings and lack of dividends. However, the new drilling program at the Pangeni Copper Project offers a positive outlook and potential future growth, albeit it does not immediately improve the company’s financial position.
To see Spark’s full report on TSE:BMET stock, click here.
More about BeMetals
BeMetals Corp. is a precious and base metals exploration and development company focused on advancing high-potential mineral projects. It is affiliated with B2Gold Corp., which owns approximately 24% of its outstanding shares. The company is exploring the Savant Gold Project in Ontario, the Pangeni Copper Project in Zambia, and has gold exploration projects in Japan.
Average Trading Volume: 111,503
Technical Sentiment Signal: Buy
Current Market Cap: C$17.16M
See more insights into BMET stock on TipRanks’ Stock Analysis page.