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Arizona Sonoran Copper Co. ( (TSE:ASCU) ) has issued an update.
Arizona Sonoran Copper Company announced that Tembo Capital sold 17.5 million of its shares in a bought deal arrangement with Scotia Capital, reducing Tembo’s ownership from 18.8% to 9.0%. This transaction terminated the Investor Rights Agreement between ASCU and Tembo, and led to the resignation of Tembo’s board nominee, Mark Palmer. The sale is seen as beneficial for ASCU by improving trading liquidity and attracting new institutional investors to the Cactus Project. Tembo remains a significant shareholder and continues to support ASCU’s development efforts.
The most recent analyst rating on (TSE:ASCU) stock is a Buy with a C$3.00 price target. To see the full list of analyst forecasts on Arizona Sonoran Copper Co. stock, see the TSE:ASCU Stock Forecast page.
Spark’s Take on TSE:ASCU Stock
According to Spark, TipRanks’ AI Analyst, TSE:ASCU is a Neutral.
Arizona Sonoran Copper Co., Inc. has promising project developments and strategic investments supporting its future potential, reflected in a strong corporate events score. However, the lack of revenue, persistent losses, and negative cash flows weigh heavily on its financial performance score. Technical indicators show positive momentum, but valuation concerns remain due to ongoing losses and no dividend yield.
To see Spark’s full report on TSE:ASCU stock, click here.
More about Arizona Sonoran Copper Co.
Arizona Sonoran Copper Company is a US-based copper exploration and development firm with a 100% interest in the Cactus Project. The project is situated on privately held land and features a large-scale porphyry copper resource. The company aims to develop the Cactus Project into a mid-tier copper producer with low operating costs, benefiting from state-led permitting processes and existing infrastructure.
Average Trading Volume: 140,896
Technical Sentiment Signal: Buy
Current Market Cap: C$406.8M
See more insights into ASCU stock on TipRanks’ Stock Analysis page.