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Leocor Gold ( (TSE:LECR) ) has provided an announcement.
Leocor Mining plans to conduct a VTEM airborne electromagnetic survey over its 2,002-hectare Baie Verte gold-copper project on Newfoundland’s north-central coast to refine drill targets across the entire property. The program follows last summer’s discovery of volcanogenic massive sulphide-style mineralization at the Copper Creek area, which management views as a strong rationale for further drilling.
The survey is expected to generate detailed conductivity data that should help the company prioritize high-potential zones for follow-up drilling within the VMS system identified to date. By applying time-domain EM methods well suited to detecting highly conductive sulphide bodies, Leocor aims to advance the Baie Verte project more efficiently and potentially enhance the overall exploration upside of its broader district-scale land position.
The most recent analyst rating on (TSE:LECR) stock is a Sell with a C$0.04 price target. To see the full list of analyst forecasts on Leocor Gold stock, see the TSE:LECR Stock Forecast page.
Spark’s Take on TSE:LECR Stock
According to Spark, TipRanks’ AI Analyst, TSE:LECR is a Neutral.
The score is weighed down primarily by weak financial performance (no revenue, ongoing losses, and persistent negative operating/free cash flow) and bearish technicals (price below key moving averages with negative MACD). The debt-free balance sheet provides some risk mitigation, but valuation signals are not supportive due to the company being loss-making and lacking dividend data.
To see Spark’s full report on TSE:LECR stock, click here.
More about Leocor Gold
Leocor Mining Inc., formerly Leocor Gold Inc., is a British Columbia-based junior resource company focused on the acquisition and exploration of precious metal projects in Atlantic Canada. The company controls several gold-copper properties in Newfoundland’s prolific Baie Verte mining district, including the Dorset, Dorset Extension, Copper Creek and Five Mile Brook projects, forming a roughly 2,000-hectare contiguous exploration corridor.
Average Trading Volume: 73,517
Technical Sentiment Signal: Sell
Current Market Cap: C$5.32M
For an in-depth examination of LECR stock, go to TipRanks’ Overview page.