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Metals Creek Resources ( (TSE:MEK) ) just unveiled an update.
Metals Creek Resources Corp. has successfully closed the second tranche of its private placement financing, raising $60,000 through the issuance of flow-through and non-flow-through units. The funds will be used for exploration activities on the company’s properties in Newfoundland and Ontario, with a focus on the Ogden project. The company has also requested an extension for the financing and awaits final approval from the TSX Venture Exchange.
Spark’s Take on TSE:MEK Stock
According to Spark, TipRanks’ AI Analyst, TSE:MEK is a Underperform.
Metals Creek Resources faces significant financial difficulties, with persistent losses and a lack of revenue generation being the primary concerns. While recent corporate developments offer some hope for future growth, the technical and valuation metrics remain unfavorable, resulting in a low overall stock score.
To see Spark’s full report on TSE:MEK stock, click here.
More about Metals Creek Resources
Metals Creek Resources Corp. is a junior exploration company based in Ontario, Canada, focusing on gold exploration. The company holds a 50% interest in the Ogden Gold Property near Timmins, Ontario, and has multiple projects available for option.
Average Trading Volume: 333,242
Technical Sentiment Signal: Sell
Current Market Cap: C$4.67M
See more insights into MEK stock on TipRanks’ Stock Analysis page.