Blue Moon Metals Secures Permits and Contract for Key Tunnel Extension in Norway

Blue Moon Metals ( (TSE:MOON) ) has provided an update.

Blue Moon Metals Inc. has received environmental permits and awarded a contract to Fauskebygg AS for the extension of the Rupsi tunnel at Nye Sulitjelma Gruver AS in Norway. This development marks a significant milestone for the Sulitjelma Project, enabling a 10,000-meter exploration drilling program aimed at upgrading resources and gathering essential data. The project is expected to enhance the company’s exploration capabilities and potentially improve its resource classification, impacting its operational efficiency and industry positioning.

The most recent analyst rating on (TSE:MOON) stock is a Buy with a C$4.50 price target. To see the full list of analyst forecasts on Blue Moon Metals stock, see the TSE:MOON Stock Forecast page.

Spark’s Take on TSE:MOON Stock

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

Blue Moon Metals is currently struggling with financial stability due to its pre-revenue status and reliance on financing, which significantly impacts its overall score. Despite positive technical indicators and strategic corporate developments, the lack of earnings and traditional valuation metrics pose substantial risks for investors.

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

More about Blue Moon Metals

Blue Moon Metals Inc. is engaged in advancing three brownfield polymetallic projects, including the Nussir copper-gold-silver project and the NSG copper-zinc-gold-silver project in Norway, as well as the Blue Moon zinc-gold-silver-copper project in the United States. These projects are strategically located with access to existing infrastructure, and focus on metals critical to the global economy and national security, such as zinc and copper.

Average Trading Volume: 40,592

Technical Sentiment Signal: Buy

Current Market Cap: C$166.8M

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