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The latest update is out from Search Minerals ( (TSE:SMY) ).
Search Minerals has amended the terms of its non-brokered private placement financings, increasing the share price for its hard-dollar private placement from $0.25 to $0.33 per share, aiming for gross proceeds of up to $993,847. The funds from these financings will be used for Canadian exploration expenses related to the company’s Foxtrot and Deep Fox projects and for general corporate purposes, subject to regulatory approvals.
Spark’s Take on TSE:SMY Stock
According to Spark, TipRanks’ AI Analyst, TSE:SMY is a Neutral.
Search Minerals presents a challenging financial outlook with significant weaknesses in income generation and cash flow management. The technical analysis indicates a lack of momentum, while valuation metrics are unattractive due to continued losses. However, recent regulatory improvements provide a slight positive outlook, preventing a lower overall score.
To see Spark’s full report on TSE:SMY stock, click here.
More about Search Minerals
Search Minerals is a company focused on exploring and developing Critical Rare Earth Elements (CREE) and transition metals Zirconium and Hafnium within the emerging Port Hope Simpson – St. Lewis CREE District of South-East Labrador. The company controls two deposits, Foxtrot and Deep Fox, and has several other prospects in a 64-kilometer-long CREE District in Labrador. Additionally, Search Minerals has CREE assets in the Red Wine CREE District of central Labrador.
Average Trading Volume: 28,632
Technical Sentiment Signal: Buy
Current Market Cap: C$18.48M
See more insights into SMY stock on TipRanks’ Stock Analysis page.