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Pacific Empire Minerals ( (TSE:PEMC) ) just unveiled an announcement.
Pacific Empire Minerals Corp. has successfully closed the second tranche of its non-brokered private placement, raising a total of C$1,526,991.95 to fund exploration activities at its Trident Copper-Gold Project and for general working capital. The company has also announced the commencement of diamond drilling at the Trident site, marking a significant milestone as it targets previously undrilled porphyry and breccia targets. This drilling program is seen as a pivotal moment for Pacific Empire, potentially leading to a transformational discovery in a geological setting known for copper-gold porphyry deposits.
Spark’s Take on TSE:PEMC Stock
According to Spark, TipRanks’ AI Analyst, TSE:PEMC is a Underperform.
The overall score for Pacific Empire Minerals is low due to significant financial struggles with no revenue, continuous losses, and reliance on external financing. The technical analysis also indicates bearish trends. Although the corporate events indicate potential for future resource development, the lack of current profitability and negative valuation metrics heavily weigh down the score.
To see Spark’s full report on TSE:PEMC stock, click here.
More about Pacific Empire Minerals
Pacific Empire Minerals Corp. is a copper-gold exploration company based in British Columbia, Canada. The company focuses on exploring and developing copper-gold projects, with a particular emphasis on its flagship Trident Copper-Gold Project.
Average Trading Volume: 445,835
Technical Sentiment Signal: Buy
Current Market Cap: C$6.97M
See more insights into PEMC stock on TipRanks’ Stock Analysis page.