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1911 Gold ( (TSE:AUMB) ) has issued an update.
1911 Gold Corporation has received a $300,000 grant from the Manitoba Mineral Development Fund to support its underground drilling program at the True North Gold Project. This funding will aid in the delineation drill program, crucial for the company’s plans to restart mining operations by 2027. The grant reflects a shared commitment to responsible resource development and economic growth in Manitoba, benefiting local communities and stakeholders.
Spark’s Take on TSE:AUMB Stock
According to Spark, TipRanks’ AI Analyst, TSE:AUMB is a Neutral.
1911 Gold’s overall stock score reflects significant financial difficulties, with declining revenues and negative cash flows posing major challenges. The technical analysis suggests potential for positive momentum, while recent corporate events provide hopeful prospects for future growth. However, valuation remains unattractive due to persistent profitability issues.
To see Spark’s full report on TSE:AUMB stock, click here.
More about 1911 Gold
1911 Gold Corporation is a junior developer with a significant land package in the Archean Rice Lake greenstone belt in Manitoba, Canada. The company owns the True North mine and mill complex and is focused on developing a mining district centered on this complex. Additionally, 1911 Gold holds projects in Manitoba and Ontario, aiming for organic growth and acquisition opportunities across North America.
YTD Price Performance: 416.13%
Average Trading Volume: 2,209,390
Technical Sentiment Signal: Buy
Current Market Cap: C$213.3M
Find detailed analytics on AUMB stock on TipRanks’ Stock Analysis page.