Canada Carbon Completes Third Drilling Campaign at Asbury Graphite Project

Canada Carbon ( (TSE:CCB) ) has provided an update.

Canada Carbon Inc. has completed its third drilling campaign on the Asbury graphite property in Quebec, finishing 2,517 metres of drilling across the project’s five-kilometre mineralized trend, bringing total drilling at Asbury since 2022 to more than 7,500 metres. The new drilling data will be used to update the project’s NI 43-101 resource report and advance a pre-feasibility study, building on earlier campaigns that returned high graphite grades in the eastern part of the deposit and supporting the company’s efforts to de-risk the project, enhance its graphite resource base and contribute to Quebec’s push to develop critical mineral mining projects and local economic activity.

The most recent analyst rating on (TSE:CCB) stock is a Sell with a C$0.01 price target. To see the full list of analyst forecasts on Canada Carbon stock, see the TSE:CCB Stock Forecast page.

Spark’s Take on TSE:CCB Stock

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

The score is held down primarily by weak financial performance (no revenue, ongoing losses, rising cash burn, and negative equity). Technical indicators provide only limited support (slightly positive momentum but price below key moving averages), and valuation is not compelling given the negative P/E and no dividend yield.

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

More about Canada Carbon

Canada Carbon Inc. is a Canadian mineral exploration company focused on the acquisition, exploration and development of graphite deposits. The company owns two historic graphite mines, Miller and Asbury, in Quebec, and aims to become a producer of high-quality graphite while adhering to strong social and environmental responsibility standards.

Technical Sentiment Signal: Sell

Current Market Cap: C$3.63M

For a thorough assessment of CCB stock, go to TipRanks’ Stock Analysis page.