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Endurance Gold ( (TSE:EDG) ) has shared an announcement.
Endurance Gold Corporation has announced an inaugural Inferred Mineral Resource Estimate for its Reliance Gold Project totaling 19.6 million tonnes grading 2.30 grams per tonne gold, containing 1.45 million ounces of gold split between near-surface open-pit and underground resources. The resource remains open for expansion along strike and at depth, initial metallurgical testwork indicates the ability to produce a high-grade marketable concentrate, and the company is planning infill and step-out drilling, further exploration of nearby targets, ongoing metallurgical optimization and commencement of economic and engineering studies toward a Preliminary Economic Assessment, signaling a key de-risking milestone and potential growth catalyst for the project and its stakeholders.
The most recent analyst rating on (TSE:EDG) stock is a Hold with a C$0.41 price target. To see the full list of analyst forecasts on Endurance Gold stock, see the TSE:EDG Stock Forecast page.
Spark’s Take on TSE:EDG Stock
According to Spark, TipRanks’ AI Analyst, TSE:EDG is a Neutral.
The score is primarily held back by weak operating fundamentals and cash burn (no revenue, recurring operating losses, negative and deteriorating free cash flow), despite a strong, debt-free balance sheet. Technicals are supportive due to a clear uptrend, but overbought indicators reduce confidence. Valuation is also a headwind with a high P/E and no yield, while recent positive drill results provide a modest offset as a potential catalyst.
To see Spark’s full report on TSE:EDG stock, click here.
More about Endurance Gold
Endurance Gold Corporation is a Canadian mineral exploration company focused on gold, with its flagship 100%-owned Reliance Gold Project located in southwest British Columbia. The project is road-accessible within the historic Bridge River Mining Camp and benefits from proximity to existing infrastructure including roads, hydroelectric power, water and a local workforce, positioning the company to advance exploration and potential development activities efficiently.
Average Trading Volume: 54,849
Technical Sentiment Signal: Buy
Current Market Cap: C$69.64M
See more data about EDG stock on TipRanks’ Stock Analysis page.