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An announcement from Angkor Gold ( (TSE:ANK) ) is now available.
Angkor Resources Corp. reported that shareholders approved all resolutions at its latest annual general meeting, including the reappointment of auditors, confirmation of a six-member board and the election of veteran geoscientist Dr. David Johnson as a new director, while two long-standing directors, Steve Cochrane and Scott Smith, retired from the board. Investors also overwhelmingly backed the C$4.8 million sale of Angkor’s 40% interest in the Evesham Macklin oil and gas lands in Saskatchewan, a transaction that removes C$3.8 million of debt and delivers C$1 million in net proceeds, enabling the company to sharpen its strategic focus and redeploy capital into its Cambodian onshore Block VIII project for future growth.
The most recent analyst rating on (TSE:ANK) stock is a Hold with a C$0.39 price target. To see the full list of analyst forecasts on Angkor Gold stock, see the TSE:ANK Stock Forecast page.
Spark’s Take on TSE:ANK Stock
According to Spark, TipRanks’ AI Analyst, TSE:ANK is a Neutral.
The score is held back primarily by weak financial performance (pre-revenue, losses, cash burn) and leverage risk, partially offset by constructive technical trend/momentum and a series of positive corporate updates aimed at improving funding flexibility and advancing exploration plans.
To see Spark’s full report on TSE:ANK stock, click here.
More about Angkor Gold
Angkor Resources Corp., listed on the TSX Venture Exchange, is a Canadian-based resource optimizer focused on mineral and energy opportunities in Cambodia. Through its Angkor Gold subsidiary, the company holds two mineral exploration licences with multiple copper and gold prospects, while its EnerCam Resources unit operates the onshore Block VIII oil and gas licence, where it is advancing seismic-supported exploration toward Cambodia’s first onshore oil and gas exploratory wells.
Average Trading Volume: 79,653
Technical Sentiment Signal: Buy
Current Market Cap: C$75M
For an in-depth examination of ANK stock, go to TipRanks’ Overview page.