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The latest update is out from Lithium Ionic Corp ( (TSE:LTH) ).
Lithium Ionic Corp. has successfully closed the final tranche of an oversubscribed non-brokered private placement, raising a total of $18.26 million. The funds will be used for the development of its Brazilian properties and general corporate purposes. Additionally, the company plans to issue shares to RTEK International DMCC as compensation for their role in a feasibility study that significantly reduced projected capital expenditures.
The most recent analyst rating on (TSE:LTH) stock is a Buy with a C$3.75 price target. To see the full list of analyst forecasts on Lithium Ionic Corp stock, see the TSE:LTH Stock Forecast page.
Spark’s Take on TSE:LTH Stock
According to Spark, TipRanks’ AI Analyst, TSE:LTH is a Underperform.
The overall score is primarily weighed down by significant financial challenges, including persistent losses and cash flow issues. Technical indicators suggest a bearish trend, while valuation remains unattractive due to negative earnings. However, recent strategic corporate events may provide future growth opportunities, potentially offsetting some of the current financial weaknesses.
To see Spark’s full report on TSE:LTH stock, click here.
More about Lithium Ionic Corp
Lithium Ionic Corp. is a Canadian mining company focused on exploring and developing lithium properties in Brazil. Its flagship projects, Itinga and Salinas, span 14,668 hectares in Minas Gerais, a region known for its rich hard-rock lithium deposits.
Average Trading Volume: 281,832
Technical Sentiment Signal: Buy
Current Market Cap: C$122.1M
Find detailed analytics on LTH stock on TipRanks’ Stock Analysis page.