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Rain City Resources ( (TSE:RAIN) ) just unveiled an update.
EMP Metals Corp. has received permits from Saskatchewan authorities for the construction and operation of its lithium refining demonstration plant, Project Aurora, in southeast Saskatchewan. This project, in collaboration with Saltworks Technologies, aims to innovate and reduce costs in lithium brine extraction and refining, positioning EMP Metals advantageously in the resource development sector, with commissioning expected in Q1 2025.
Spark’s Take on TSE:RAIN Stock
According to Spark, TipRanks’ AI Analyst, TSE:RAIN is a Underperform.
EMP Metals faces considerable financial challenges, with zero revenue and persistent losses posing significant risks to its viability. While the balance sheet shows strength in equity, the lack of profitability and unsustainable cash flows are concerning. Technical analysis provides no clear direction, and valuation metrics indicate the stock’s unattractiveness due to its financial issues.
To see Spark’s full report on TSE:RAIN stock, click here.
More about Rain City Resources
EMP Metals is a Canadian-based lithium exploration and development company focused on large-scale resources using direct lithium extraction (DLE). The company currently holds over 205,000 net acres of Subsurface Dispositions and strategic wellbores in Southern Saskatchewan.
Average Trading Volume: 379,725
Technical Sentiment Signal: Sell
Current Market Cap: C$1.24M
Find detailed analytics on RAIN stock on TipRanks’ Stock Analysis page.