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CANEX Metals ( (TSE:CANX) ) has issued an update.
CANEX Metals has secured control of Gold Basin Resources after more than 51% of Gold Basin’s outstanding shares were tendered to its takeover offer, enabling CANEX to proceed with share take-up, gain board control, and address Gold Basin’s regulatory issues and debts. With all remaining offer conditions waived and a partial revocation of Gold Basin’s cease-trade order extended to March 31, 2026, CANEX has introduced a mandatory 10-day extension of the offer to February 10, 2026, positioning the combined Gold Range–Gold Basin district in northern Arizona as a large, advanced oxide-gold camp with significant upside and offering remaining Gold Basin shareholders what the company characterizes as a final near-term opportunity to obtain liquidity and value for their shares.
The most recent analyst rating on (TSE:CANX) stock is a Hold with a C$0.26 price target. To see the full list of analyst forecasts on CANEX Metals stock, see the TSE:CANX Stock Forecast page.
Spark’s Take on TSE:CANX Stock
According to Spark, TipRanks’ AI Analyst, TSE:CANX is a Neutral.
The score is held back primarily by weak financial performance (pre-revenue losses and ongoing cash burn) and limited valuation support (negative P/E). Offsetting factors include constructive technical momentum (price above key moving averages with positive MACD) and supportive corporate events (C$3M financing and insider participation strengthening balance sheet and M&A positioning).
To see Spark’s full report on TSE:CANX stock, click here.
More about CANEX Metals
CANEX Metals Inc. is a Canadian mineral exploration company listed on the TSX Venture Exchange, focused on gold projects with a particular emphasis on building scale in oxide-gold districts. The company’s strategy includes consolidating advanced exploration assets, such as its Gold Range project and the neighbouring Gold Basin project in northern Arizona, to create a larger, more efficient gold district with enhanced exploration potential and operational synergies.
Average Trading Volume: 269,312
Technical Sentiment Signal: Buy
Current Market Cap: C$41.74M
For an in-depth examination of CANX stock, go to TipRanks’ Overview page.