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Founders Metals ( (TSE:FDR) ) has issued an update.
Founders Metals Inc. has announced significant drill core assay results from its ongoing drilling campaign at the Antino Gold Project in Suriname. The deep drilling program at Upper Antino has successfully intersected high-grade gold mineralization, with notable results including 18.0 meters of 6.14 g/t gold and 5.0 meters of 10.61 g/t gold at a depth of around 450 meters. These findings confirm the potential for substantial gold mineralization at depth, enhancing the project’s scale and potential. The company’s comprehensive exploration approach, including drilling at multiple targets and ongoing surface exploration, positions it to unlock the full potential of the Antino Project.
The most recent analyst rating on (TSE:FDR) stock is a Buy with a C$7.50 price target. To see the full list of analyst forecasts on Founders Metals stock, see the TSE:FDR Stock Forecast page.
Spark’s Take on TSE:FDR Stock
According to Spark, TipRanks’ AI Analyst, TSE:FDR is a Neutral.
Founders Metals faces substantial challenges in financial performance due to its lack of revenue and negative cash flow, which significantly impact its overall stock score. However, the strong balance sheet and positive corporate events provide some optimism. Technical analysis indicates mixed signals with a bearish bias, while valuation concerns persist due to ongoing losses. Corporate events, including significant financing and promising exploration results, offer potential upside if the company can leverage these developments effectively.
To see Spark’s full report on TSE:FDR stock, click here.
More about Founders Metals
Founders Metals is a Canadian-based exploration company focused on advancing the Antino Gold Project in Suriname, South America. The project spans 20,000 hectares and has historically produced over 500,000 ounces of gold. The company is committed to responsible exploration and aims to deliver long-term value to shareholders through technical excellence and strategic growth in the Guiana Shield.
Average Trading Volume: 199,999
Technical Sentiment Signal: Buy
Current Market Cap: C$418.1M
See more data about FDR stock on TipRanks’ Stock Analysis page.