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Idaho Champion Gold Mines Canada Inc ( (TSE:LTHM) ) just unveiled an update.
Champion Electric Metals Inc. has agreed to sell its wholly owned Champion Lithium Project in the Eeyou Istchee James Bay territory of Quebec to a non-arm’s length buyer, a company director, for total cash consideration of USD$1 million, subject to regulatory approvals. The proceeds are earmarked for reducing liabilities, bolstering working capital and funding strategic corporate initiatives, with management stating the divestiture will streamline the business, sharpen its focus on its remaining early-stage precious and base metal assets, and support the pursuit of more advanced-stage opportunities; the related-party transaction was approved by the independent members of the board under applicable minority protection rules without the formation of a special committee.
Spark’s Take on TSE:LTHM Stock
According to Spark, TipRanks’ AI Analyst, TSE:LTHM is a Underperform.
Idaho Champion Gold Mines Canada Inc. faces significant challenges with no revenue and continuous losses. The bearish technical indicators and negative valuation metrics further weigh down the score. The company’s lack of earnings call data and corporate events does not provide any additional positive outlook.
To see Spark’s full report on TSE:LTHM stock, click here.
More about Idaho Champion Gold Mines Canada Inc
Champion Electric Metals Inc. is a discovery-focused mineral exploration company with copper, gold and cobalt properties in Idaho, including the 100%-owned Champagne polymetallic project in Butte County and the Baner gold project in Idaho County, which is optioned to Legacy Gold Mines Ltd. The company also holds significant claims in the Idaho Cobalt Belt and emphasizes responsible environmental stewardship and engagement with local communities where it operates.
Average Trading Volume: 279,090
Technical Sentiment Signal: Sell
Current Market Cap: C$1.39M
See more data about LTHM stock on TipRanks’ Stock Analysis page.