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Great Atlantic Resources ( (TSE:GR) ) has issued an announcement.
Great Atlantic Resources has granted Slam Exploration an option to earn a 100% interest in its Mount Raymond South cobalt-copper-nickel-vanadium property in northern New Brunswick. The 175-hectare property hosts documented near-surface mineralization, including historical drill intersections of cobalt, copper, nickel and vanadium, though these results have not been independently verified by Great Atlantic.
Under the arm’s-length agreement, Slam can secure full ownership by making staged cash payments totalling $82,500, issuing 675,000 shares to Great Atlantic and spending at least $200,000 on exploration over three years. Upon completion, Great Atlantic will retain a 2% net smelter return royalty, with Slam holding the right to buy back 1% for $1 million, giving Great Atlantic ongoing exposure to potential future production while shifting exploration costs to its partner.
The most recent analyst rating on (TSE:GR) stock is a Sell with a C$0.11 price target. To see the full list of analyst forecasts on Great Atlantic Resources stock, see the TSE:GR Stock Forecast page.
Spark’s Take on TSE:GR Stock
According to Spark, TipRanks’ AI Analyst, TSE:GR is a Neutral.
The score is held down primarily by weak financial performance (no revenue, ongoing losses and cash burn, and negative equity). Technicals provide meaningful near-term support (price above major moving averages and positive MACD), while valuation is constrained by unprofitability and the absence of a dividend yield.
To see Spark’s full report on TSE:GR stock, click here.
More about Great Atlantic Resources
Great Atlantic Resources Corp. is a Canadian mineral exploration company focused on discovering and developing resource projects in Atlantic Canada. The company follows a project generation model targeting critical and base metals including gold, copper, zinc, nickel, cobalt, antimony and tungsten in what it describes as a low sovereign-risk, mining-friendly region.
Average Trading Volume: 180,718
Technical Sentiment Signal: Buy
Current Market Cap: C$9.25M
See more data about GR stock on TipRanks’ Stock Analysis page.