Angkor Resources Identifies New Drilling Target in Cambodia

Angkor Gold ( (TSE:ANK) ) just unveiled an update.

Angkor Resources Corp. has identified Mussel Basin as a new target for exploratory drilling on its Block VIII oil and gas license in Cambodia. The seismic data suggests that Mussel Basin is structurally different from other basins in the area, potentially offering shallower drilling targets and higher reservoir porosity. This development is part of Angkor’s ongoing efforts to advance oil and gas exploration in Cambodia, supporting its mission to establish the country as an oil and gas producer.

Spark’s Take on TSE:ANK Stock

According to Spark, TipRanks’ AI Analyst, TSE:ANK is a Underperform.

Angkor Gold’s overall score reflects significant financial difficulties, including no revenue generation, high leverage, and negative cash flows. While technical indicators show some upward momentum, the lack of profitability and dividends impacts its valuation. Recent corporate developments suggest potential growth opportunities, but financial challenges remain a primary concern.

To see Spark’s full report on TSE:ANK stock, click here.

More about Angkor Gold

Angkor Resources Corp. is a public company listed on the TSX-Venture Exchange, focusing on resource optimization in Cambodia and Canada. It operates through its Cambodian energy subsidiary, EnerCam Resources, which holds an onshore oil and gas license in Cambodia, and its Canadian subsidiary, EnerCam Exploration Ltd., involved in oil and gas production in Saskatchewan. The company is committed to environmental and social projects, including carbon capture and gas conservation, and holds mineral exploration licenses in Cambodia for copper and gold.

Average Trading Volume: 80,388

Technical Sentiment Signal: Strong Buy

Current Market Cap: C$46.43M

See more data about ANK stock on TipRanks’ Stock Analysis page.