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Pacific Ridge Exploration ( (TSE:PEX) ) has issued an announcement.
Pacific Ridge Exploration Ltd. has increased its non-brokered private placement from $1,860,000 to $2,900,000 due to strong investor demand. The proceeds will be used for a follow-up drill program at the RDP copper-gold project and for general working capital. This expansion in funding reflects investor confidence and will support the company’s exploration activities, potentially enhancing its market position in the copper exploration industry.
Spark’s Take on TSE:PEX Stock
According to Spark, TipRanks’ AI Analyst, TSE:PEX is a Underperform.
Pacific Ridge Exploration faces significant financial challenges with persistent net losses and negative cash flow. The technical analysis shows a bearish trend, compounding the company’s valuation concerns. While the recent capital raise is a positive step, it does not offset the broader financial and operational difficulties, resulting in a low overall stock score.
To see Spark’s full report on TSE:PEX stock, click here.
More about Pacific Ridge Exploration
Pacific Ridge Exploration Ltd. is a leading copper exploration company based in British Columbia. The company focuses on copper-gold projects, with its flagship asset being the Kliyul copper-gold project. Its portfolio also includes the RDP, Chuchi, Onjo, and Redton copper-gold projects, all located in British Columbia.
Average Trading Volume: 46,195
Technical Sentiment Signal: Sell
Current Market Cap: C$3.05M
For detailed information about PEX stock, go to TipRanks’ Stock Analysis page.