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The latest update is out from GoldON Resources ( (TSE:GLD) ).
Gold Finder Resources reported results from its latest soil sampling and prospecting program on Block A of the West Madsen gold project in Ontario’s Red Lake camp. The fall work focused on infill and extension “A” horizon soil lines in two target areas along the western and eastern property boundaries, following up on earlier anomalous gold-in-soil values.
In Area 1 near Tack Lake, the program returned new soil anomalies up to 51 ppb gold that align with a previously identified east-west gold trend north of a linear magnetic high. In Area 2 on the eastern side, the highest new soil value was 37 ppb gold, while prospecting grab samples did not yield significant gold but did return notable chromium, nickel, and molybdenum values that may help refine future exploration targets.
The most recent analyst rating on (TSE:GLD) stock is a Hold with a C$0.11 price target. To see the full list of analyst forecasts on GoldON Resources stock, see the TSE:GLD Stock Forecast page.
Spark’s Take on TSE:GLD Stock
According to Spark, TipRanks’ AI Analyst, TSE:GLD is a Neutral.
The score is held back primarily by weak financial performance (no revenue, ongoing losses, and negative operating/free cash flow), despite the benefit of a debt-free balance sheet and improving loss trend. Technicals are a clear positive with the price above key moving averages and supportive momentum, while valuation remains constrained by unprofitable earnings and no dividend support.
To see Spark’s full report on TSE:GLD stock, click here.
More about GoldON Resources
Gold Finder Resources is a Vancouver-based mineral exploration company focused on gold discoveries in the Red Lake Gold Camp of Ontario. Its flagship asset is the 100%-owned West Madsen property, which adjoins West Red Lake Gold Mines’ Madsen mine, positioning the company in a highly prospective and actively developed gold district.
Average Trading Volume: 249,773
Technical Sentiment Signal: Buy
Current Market Cap: C$6.53M
See more data about GLD stock on TipRanks’ Stock Analysis page.