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Kenorland Minerals ( (TSE:KLD) ) just unveiled an update.
Kenorland Minerals has announced a grassroots gold discovery at the Opinaca Project in Quebec’s James Bay region, where it is the operator and holds a 3% NSR royalty on ground owned by Targa Exploration. The maiden drill program, comprising eight holes over 3,665 metres and testing a four-kilometre target area with no prior drilling, intersected widespread gold mineralisation in seven holes, including high-grade intercepts of 3.65 metres at 13.88 g/t gold with a 0.30-metre interval at 166.14 g/t, as well as broader zones of lower-grade mineralisation across three drill fences. Gold is hosted in multiple lithologies and shows a mineralisation style analogous to the nearby Cheechoo intrusion-related gold deposit, highlighting the potential for a significant new gold system at Opinaca and strengthening the strategic exploration upside, and royalty value, for Kenorland and its partner Targa in the emerging James Bay gold camp.
The most recent analyst rating on (TSE:KLD) stock is a Hold with a C$3.50 price target. To see the full list of analyst forecasts on Kenorland Minerals stock, see the TSE:KLD Stock Forecast page.
Spark’s Take on TSE:KLD Stock
According to Spark, TipRanks’ AI Analyst, TSE:KLD is a Neutral.
Kenorland Minerals’ stock score is primarily impacted by its financial performance challenges, with persistent net losses and negative cash flows. Despite strong technical indicators suggesting bullish momentum, the overbought conditions could lead to a pullback. The negative P/E ratio and lack of dividend yield further weigh on the valuation, resulting in a moderate overall score.
To see Spark’s full report on TSE:KLD stock, click here.
More about Kenorland Minerals
Kenorland Minerals Ltd. is a mineral exploration company focused on grassroots and early-stage discoveries, operating primarily in Canada with a portfolio of projects in Quebec’s James Bay region. The company often advances projects through partnerships and retains net smelter return royalties, such as the 3% NSR it holds on the Opinaca gold project, which is 100% owned by Targa Exploration Corp.
Average Trading Volume: 35,718
Technical Sentiment Signal: Buy
Current Market Cap: C$254.3M
See more data about KLD stock on TipRanks’ Stock Analysis page.