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An announcement from Barksdale Capital ( (TSE:BRO) ) is now available.
Barksdale Resources has launched its Phase II earn-in drill program at the Sunnyside property in Arizona, targeting near-surface copper occurrences identified by historical ASARCO work, polymetallic anomalies near historic mines, and geophysical targets defined by prior surveys. The campaign, expected to take three to four months plus lab time for assays, is being carried out under a U.S. Forest Service-approved plan of operations and leverages long-standing relationships with environmental and drilling contractors.
The Phase II work is a key step in increasing Barksdale’s ownership in Sunnyside from 51% to 67.5% under its joint venture with Great Basin Metals, with required expenditures already met during Phase I and only drilling plus cash and share payments remaining. The program unfolds as neighboring South32 advances its Hermosa project and reports that its Peake deposit may link with the Taylor deposit, which drilling and historical data indicate extends into Sunnyside, potentially enhancing the strategic significance of Barksdale’s ground; meanwhile, the company is also reassessing historic and 2021 core from its San Javier project for gold, following encouraging intercepts that could add further upside to its portfolio.
The most recent analyst rating on (TSE:BRO) stock is a Sell with a C$0.18 price target. To see the full list of analyst forecasts on Barksdale Capital stock, see the TSE:BRO Stock Forecast page.
Spark’s Take on TSE:BRO Stock
According to Spark, TipRanks’ AI Analyst, TSE:BRO is a Neutral.
The score is held down primarily by very weak financial performance (pre-revenue with ongoing losses and negative free cash flow), despite a comparatively modestly levered balance sheet. Technicals are supportive due to a strong uptrend, but extremely overbought indicators add near-term risk. Valuation is constrained by a negative P/E and no dividend yield data.
To see Spark’s full report on TSE:BRO stock, click here.
More about Barksdale Capital
Barksdale Resources Corp. is a mineral exploration company focused on copper and polymetallic projects in the U.S. Southwest and Mexico, including its flagship Sunnyside property in Arizona and the San Javier iron-oxide-copper-gold project. The company advances these assets through joint ventures and systematic drilling and sampling programs aimed at expanding known metal endowments in established mining districts.
YTD Price Performance: 128.92%
Average Trading Volume: 279,993
Technical Sentiment Signal: Hold
Current Market Cap: C$25.08M
Learn more about BRO stock on TipRanks’ Stock Analysis page.