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Fathom Nickel ( (TSE:FNI) ) just unveiled an announcement.
Fathom Nickel has reported a new discovery of magmatic nickel-copper-cobalt sulphide mineralization about 500 meters east-northeast of the historic Gochager Lake deposit, achieved during the completion of its winter drill program. The campaign also identified the strongest borehole electromagnetic off-hole conductor yet at the project, roughly 1.6 kilometers east-northeast of the historic deposit, highlighting additional high-priority targets.
The winter phase comprised seven drill holes totaling 2,143 meters, and the company says it is fully funded to carry out the combined winter and summer drill programs of up to 4,000 meters. Fathom plans to refine interpretations over the next two months, with further drilling in the new discovery area and around the strong conductor scheduled to begin in early to mid-June, pending assay results expected around mid-June.
The most recent analyst rating on (TSE:FNI) stock is a Hold with a C$0.04 price target. To see the full list of analyst forecasts on Fathom Nickel stock, see the TSE:FNI Stock Forecast page.
Spark’s Take on FNI Stock
According to Spark, TipRanks’ AI Analyst, FNI is a Neutral.
The score is held back primarily by fundamentals: the company is pre-revenue with ongoing losses and negative free cash flow despite an improving loss trend. This is partially offset by a relatively strong balance sheet with minimal debt and a positive technical setup with price trading above key moving averages and supportive momentum indicators.
To see Spark’s full report on FNI stock, click here.
More about Fathom Nickel
Fathom Nickel Inc. is a Canadian mineral exploration company focused on nickel, copper and cobalt sulphide deposits. The company is advancing its Gochager Lake Project in Saskatchewan, targeting magmatic Ni-Cu-Co mineralization through staged winter and summer drill programs funded for up to 4,000 meters of drilling.
Average Trading Volume: 566,052
Technical Sentiment Signal: Buy
Current Market Cap: C$8.05M
See more data about FNI stock on TipRanks’ Stock Analysis page.