Targa Exploration Corp. ( (TSE:TEX) ) has issued an update.
Targa Exploration Corp. announced a non-brokered private placement to raise up to C$500,000 through the sale of hard dollar units and flow-through shares, priced at C$0.02 each. The proceeds will be used for exploration of the Opinaca gold project and working capital. The offering is expected to close by May 30, 2025, with securities subject to a four-month hold period. This move is aimed at advancing the Opinaca project, which has shown promising gold targets, potentially strengthening Targa’s position in the gold exploration industry.
Spark’s Take on TSE:TEX Stock
According to Spark, TipRanks’ AI Analyst, TSE:TEX is a Underperform.
Targa Exploration Corp.’s financial instability, demonstrated by a lack of revenue and negative cash flow, heavily impacts its stock score. Weak technical indicators and an unattractive valuation further depress the score, suggesting significant risk for potential investors.
To see Spark’s full report on TSE:TEX stock, click here.
More about Targa Exploration Corp.
Targa Exploration Corp. is a Canadian exploration company focused on the acquisition, exploration, and development of gold mineral properties. Headquartered in Vancouver, British Columbia, Targa’s principal asset is the Opinaca Gold Project, which is located in the James Bay region of Quebec.
Average Trading Volume: 107,119
Technical Sentiment Signal: Sell
See more data about TEX stock on TipRanks’ Stock Analysis page.