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AFR NuVenture Resources Inc ( (TSE:AFR) ) just unveiled an announcement.
AFR NuVenture Resources Inc. will see its shares reinstated for trading on the TSX Venture Exchange following the revocation of a failure-to-file cease trade order, after bringing its financial reporting up to date with audited annual and interim statements. The company says its share structure and strategic objectives remain unchanged and outlines a plan to restart exploration at its Mary Ann’s Lake and Massey projects over the next 12 months, funded by a targeted $125,000 private placement and an existing $40,000 advance. Management acknowledges that AFR has not met the TSXV’s minimum exploration spend requirement but aims to address this through a modest diamond drilling program at Mary Ann’s Lake and geophysical work at Massey, potentially supplemented by provincial exploration grants, while relying on the deferral of insider-related payables and non-enforcement of legacy debt to stabilize working capital and maintain operations.
More about AFR NuVenture Resources Inc
AFR NuVenture Resources Inc. is a junior mineral exploration company listed on the TSX Venture Exchange, focused on advancing early-stage base metal assets in Canada. Its primary projects are the Mary Ann’s Lake copper-silver property in Cape Breton, Nova Scotia, and the Massey nickel-copper project in the Timmins Mining Camp in Ontario, targeting exploration-stage opportunities in established mining jurisdictions.
Average Trading Volume: 619,326
Technical Sentiment Signal: Hold
Current Market Cap: C$378.2K
For a thorough assessment of AFR stock, go to TipRanks’ Stock Analysis page.