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Chesapeake Gold ( (TSE:CKG) ) has provided an update.
Chesapeake Gold Corp has completed the sale of its Tatatila gold-copper project in Veracruz, Mexico, to Mexican Gold Mining Corp. As part of the transaction, Chesapeake acquired a 14.99% stake in Mexican Gold through common shares and secured a 1.5% net smelter return royalty. This strategic move allows Chesapeake to focus on its core assets while maintaining an investment interest in Mexican Gold, potentially benefiting from future developments and market conditions.
Spark’s Take on TSE:CKG Stock
According to Spark, TipRanks’ AI Analyst, TSE:CKG is a Underperform.
Chesapeake Gold’s overall score is primarily impacted by its financial performance challenges, including no revenue generation and negative cash flows. While technical indicators suggest a bearish trend, the recent corporate appointment offers a potential strategic advantage. However, these positives are outweighed by the current operational and financial struggles, resulting in a low overall score.
To see Spark’s full report on TSE:CKG stock, click here.
More about Chesapeake Gold
Chesapeake Gold Corp is a mining company primarily focused on the development of its flagship asset, the Metates Project, located in Durango State, Mexico. This project is one of the largest undeveloped gold-silver deposits in the Americas, containing significant quantities of gold and silver. The company is involved in the exploration and development of mineral properties and employs proprietary oxidative leach technology.
Average Trading Volume: 92,272
Technical Sentiment Signal: Buy
Current Market Cap: C$153.8M
Learn more about CKG stock on TipRanks’ Stock Analysis page.