Awalé Resources Launches Major Drilling Program in Côte d’Ivoire

Awale Resources Limited ( (TSE:ARIC) ) has provided an update.

Awalé Resources Limited has commenced an extensive 88,000-metre diamond drilling program at its Odienné Project in Côte d’Ivoire, marking the largest phase of drilling in its joint venture with Newmont. The program aims to advance the BBM, Charger, and Empire targets toward initial resource estimates and a preliminary economic assessment, while also accelerating greenfield discovery across the district. With four rigs currently in operation and two more expected by December, the company anticipates initial results from the Charger target by year-end, contributing to a steady flow of results throughout 2026. This initiative is part of Awalé’s strategy to expand its resource inventory and enhance its positioning in the emerging gold and copper district.

Spark’s Take on TSE:ARIC Stock

According to Spark, TipRanks’ AI Analyst, TSE:ARIC is a Neutral.

Awale Resources Limited’s overall stock score is driven by significant financial challenges, marked by persistent losses and negative cash flows. However, strong technical indicators and the recent expansion of exploration activities at the Odienné Project offer potential upside. The negative P/E ratio and lack of dividends detract from the stock’s valuation, making it less appealing to risk-averse investors. The score reflects a cautious outlook due to financial performance, tempered by positive technical and corporate developments.

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

More about Awale Resources Limited

Awalé Resources Limited is a mineral exploration company focused on discovering large high-grade gold and copper-gold deposits. The company is actively exploring the underexplored regions of Côte d’Ivoire, particularly the Odienné district.

Average Trading Volume: 138,051

Technical Sentiment Signal: Buy

Current Market Cap: C$57.79M

See more insights into ARIC stock on TipRanks’ Stock Analysis page.