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An announcement from Galway Metals ( (TSE:GWM) ) is now available.
Galway Metals has signed a binding option and joint venture term sheet with Japan’s DOWA Metals & Mining for its Estrades gold and zinc project in Quebec, giving DOWA the right to earn up to a 45% participating interest and full zinc concentrate offtake through staged investments totaling up to US$25 million. The three-phase structure sees DOWA initially gaining a 10% stake and 50% zinc offtake for US$5 million, rising to 30% ownership and 75% offtake after a further US$10 million and formation of a joint venture, and ultimately to 45% ownership and 100% zinc offtake with an additional US$10 million focused on feasibility work, positioning Galway to advance Estrades toward a production decision while securing funding, technical expertise, and long-term concentrate sales for the project.
The most recent analyst rating on (TSE:GWM) stock is a Hold with a C$0.83 price target. To see the full list of analyst forecasts on Galway Metals stock, see the TSE:GWM Stock Forecast page.
Spark’s Take on TSE:GWM Stock
According to Spark, TipRanks’ AI Analyst, TSE:GWM is a Neutral.
The score is held back mainly by weak financial performance (pre-revenue, widening losses and negative cash flow), partly offset by a low-debt balance sheet. Technicals are strong with clear trend support above key moving averages, while valuation is constrained by negative earnings and no stated dividend yield. Recent financings and positive drilling results add support by improving funding visibility and exploration upside.
To see Spark’s full report on TSE:GWM stock, click here.
More about Galway Metals
Galway Metals Inc. is a Canadian mineral exploration and development company focused on its 100%-owned, high-grade, open-pittable Clarence Stream gold project in southwest New Brunswick, an emerging gold district with a 65-kilometre exploration strike and open-ended resources. The company also owns the Estrades project, a former producing high-grade, gold-rich polymetallic VMS mine in Quebec’s Abitibi region, and is led by a management team with a history of creating shareholder value, including the sale of Galway Resources for US$340 million.
Average Trading Volume: 678,261
Technical Sentiment Signal: Buy
Current Market Cap: C$87.77M
Find detailed analytics on GWM stock on TipRanks’ Stock Analysis page.