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The latest announcement is out from Fireweed Zinc ( (TSE:FWZ) ).
Fireweed Metals Corp. has signed a $12.9 million Contribution Agreement with Natural Resources Canada to advance infrastructure planning for the North Canol corridor, a key access route to its critical mineral projects at Macmillan Pass. This agreement highlights the national importance of the Macmillan Pass district and aims to improve road and power infrastructure, addressing current limitations that hinder mineral asset development. The project will involve collaborative efforts with federal, territorial, and Indigenous governments, potentially leading to significant economic opportunities and improved access to clean energy sources.
The most recent analyst rating on (TSE:FWZ) stock is a Buy with a C$3.75 price target. To see the full list of analyst forecasts on Fireweed Zinc stock, see the TSE:FWZ Stock Forecast page.
Spark’s Take on TSE:FWZ Stock
According to Spark, TipRanks’ AI Analyst, TSE:FWZ is a Neutral.
Fireweed Zinc’s overall stock score reflects significant financial challenges, with negative profitability and cash flow issues being major concerns. While technical analysis offers some optimism with positive momentum, the poor valuation due to unprofitability weighs heavily on the score. Recent corporate events suggest strategic improvements, but their impact is not yet realized, warranting a cautious outlook.
To see Spark’s full report on TSE:FWZ stock, click here.
More about Fireweed Zinc
Fireweed Metals Corp. operates in the critical minerals industry, focusing on the development of high-grade tungsten and zinc projects. The company is advancing the Mactung and Macpass projects at Macmillan Pass, which are significant for their large deposits of tungsten, zinc, germanium, and gallium. Fireweed aims to address supply chain vulnerabilities in North America by becoming a primary supplier of tungsten concentrate, aligning with the Canadian Critical Mineral Strategy and the US-Canada Joint Action Plan on Critical Minerals.
Average Trading Volume: 293,807
Technical Sentiment Signal: Buy
Current Market Cap: C$508.7M
Learn more about FWZ stock on TipRanks’ Stock Analysis page.