02:28 PM EST, 12/23/2024 (MT Newswires) -- Arizona Metals(AZMCF) on Monday was taken off restriction by National Bank of Canada after the company raised $27 million in a bought-deal financing earlier this month.
The brokerage estimates the Outperform-rated company, with a C$3.75 price target, will begin 2025 with $36.2 million in cash and equivalents.
National Bank also noted that a mineral resource estimate at the Kay Project is expected in the second quarter of 2025 followed by a preliminary economic assessment in second half.
Shares of the company were last seen up $0.03 or %, at $1.68 on the Toronto Stock Exchange.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
Price: 1.67, Change: +0.02, Percent Change: +1.21