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Azimut Exploration ( (TSE:AZM) ) just unveiled an update.
Azimut Exploration Inc. and SOQUEM Inc. have signed a non-binding letter of intent to restructure their joint venture on the Galinée Property by selling a 75% interest to LiFT Power Ltd. This move is part of LiFT’s strategy to consolidate the Galinée-Adina Lithium District in Quebec, enhancing its property package for lithium exploration. Azimut will become a significant shareholder in LiFT and retain a 1.4% NSR royalty, aligning with its goal to focus on flagship assets while maintaining exposure to lithium districts. The transaction, which includes share issuance and a deferred payment to Azimut, is subject to definitive agreements and regulatory approvals.
The most recent analyst rating on (TSE:AZM) stock is a Hold with a C$0.50 price target. To see the full list of analyst forecasts on Azimut Exploration stock, see the TSE:AZM Stock Forecast page.
Spark’s Take on TSE:AZM Stock
According to Spark, TipRanks’ AI Analyst, TSE:AZM is a Neutral.
Azimut Exploration’s overall stock score reflects a mixed financial performance with significant profitability challenges, neutral technical indicators, and a concerning valuation due to negative earnings. However, positive corporate events, including strategic partnerships and expansions, provide a potential for future growth and improvement in market position.
To see Spark’s full report on TSE:AZM stock, click here.
More about Azimut Exploration
Azimut Exploration Inc. is a leading mineral exploration company known for its expertise in target generation and partnership development. The company focuses on mineral exploration, particularly in emerging lithium districts, and holds significant interests in various properties, including the Galinée Property in Quebec.
Average Trading Volume: 69,859
Technical Sentiment Signal: Buy
Current Market Cap: C$83.46M
See more data about AZM stock on TipRanks’ Stock Analysis page.