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BeMetals ( (TSE:BMET) ) just unveiled an announcement.
BeMetals Corp. has raised approximately C$1.1 million through the sale of marketable securities, enhancing its cash position to C$1.52 million. The company also plans a non-brokered private placement of up to 10.7 million flow-through shares to raise C$749,000, which will fund exploration activities at its Savant Gold Project in Ontario. This initiative aims to refine and prioritize areas for future drilling, potentially strengthening BeMetals’ position in the gold exploration sector.
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. The company is affiliated with B2Gold Corp., which owns about 24% of its shares. BeMetals is actively exploring the Savant Gold Project in Ontario, Canada, a region known for prolific gold production, and has interests in the Pangeni Copper Project in Zambia and Kazan gold exploration projects in Japan.
Average Trading Volume: 124,431
Technical Sentiment Signal: Sell
Current Market Cap: C$13.73M
Learn more about BMET stock on TipRanks’ Stock Analysis page.