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Freeport Resources ( (TSE:FRI) ) has issued an update.
Freeport Resources has secured explicit support from the Papua New Guinea government, including backing from Prime Minister James Marape, for its Yandera Copper Project, reinforcing the project’s national importance and its potential to deliver long-term economic benefits, jobs, and infrastructure across multiple provinces. The company is progressing regulatory steps for the renewal of Exploration Licence EL1335 and plans to advance Yandera from a historic pre-feasibility study, which outlines potential annual production of 100,000 tonnes of copper over a 20-year mine life, toward a full feasibility study and final investment decision, with stronger copper, gold and molybdenum prices expected to materially enhance project valuation and cash flow prospects.
The most recent analyst rating on (TSE:FRI) stock is a Hold with a C$0.04 price target. To see the full list of analyst forecasts on Freeport Resources stock, see the TSE:FRI Stock Forecast page.
Spark’s Take on TSE:FRI Stock
According to Spark, TipRanks’ AI Analyst, TSE:FRI is a Neutral.
The score is held back primarily by weak financial performance (recurring losses and persistent negative operating/free cash flow), which increases funding and execution risk. Technicals provide partial support due to a strong move above key moving averages and positive momentum, but valuation remains difficult to support with a negative P/E and no indicated dividend.
To see Spark’s full report on TSE:FRI stock, click here.
More about Freeport Resources
Freeport Resources Inc. is a Vancouver-based mineral exploration and development company focused on advancing the Yandera Copper Project in Papua New Guinea, one of the world’s largest undeveloped copper deposits. The company is targeting development of a large-scale open-pit operation producing copper, with associated gold and molybdenum, and is positioning itself to benefit from PNG’s strategic emphasis on major resource projects that drive GDP growth and regional infrastructure development.
Average Trading Volume: 341,818
Technical Sentiment Signal: Hold
Current Market Cap: C$10.51M
Find detailed analytics on FRI stock on TipRanks’ Stock Analysis page.