Benton Resources Approves Spin-Out of Vinland Lithium Shares

Benton Resources ( (TSE:BEX) ) has shared an announcement.

Benton Resources Inc. announced the approval of a spin-out of approximately 2 million shares of Vinland Lithium Inc. to its shareholders. This move is part of a reorganization of Benton’s share capital, with the TSX Venture Exchange approving the listing of Vinland’s shares. Vinland, which holds the Killick Lithium Project, is co-owned by Benton, Sokoman Minerals Corp., and Piedmont Lithium Newfoundland Holdings LLC. The spin-out is expected to enhance Benton’s position in the lithium market, with Piedmont having the option to earn a significant interest in the Killick Project through substantial exploration investments. This strategic move could strengthen Benton’s industry positioning and provide long-term benefits to its stakeholders.

Spark’s Take on TSE:BEX Stock

According to Spark, TipRanks’ AI Analyst, TSE:BEX is a Underperform.

Benton Resources’ stock is currently under pressure due to significant financial challenges and bearish technical indicators. The company’s inability to generate revenue and ongoing operational losses are major concerns. Although recent exploration successes and a strong equity position provide some optimism, these factors are overshadowed by negative cash flows and a challenging valuation scenario.

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

More about Benton Resources

Benton Resources Inc. is a well-financed mineral exploration company listed on the TSX Venture Exchange under the symbol BEX. The company has a diversified and highly prospective property portfolio and holds significant equity positions in other mining companies with high-quality assets. Benton focuses on advancing its high-grade Copper-Gold Great Burnt Project in central Newfoundland, which has a substantial Mineral Resource estimate and potential for further discoveries.

YTD Price Performance: -12.50%

Average Trading Volume: 137,751

Technical Sentiment Signal: Buy

Current Market Cap: C$14.39M

Find detailed analytics on BEX stock on TipRanks’ Stock Analysis page.