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PNG Copper Inc ( (TSE:PNGC) ) has shared an update.
Loyalist Exploration Limited, a company focused on acquiring mining properties, has extended its agreement with Fulcrum Metals to acquire the Tully Gold property in the Timmins Mining District. This extension includes an additional consideration of $50,000, contingent on Loyalist raising further funds. The acquisition will give Loyalist a 100% ownership of the property, which holds a historical resource estimate of 144,000 ounces of gold. This move aligns with Loyalist’s ‘Buy Timmins’ strategy and is expected to enhance shareholder value. Fulcrum will retain a 2% Net Smelter Royalty, maintaining exposure to potential upside.
Spark’s Take on TSE:PNGC Stock
According to Spark, TipRanks’ AI Analyst, TSE:PNGC is a Underperform.
PNG Copper Inc’s overall score is notably low due to significant financial challenges, including continuous losses, negative cash flows, and a negative equity position. The absence of technical analysis data and earnings call insights further underscores the uncertainty surrounding the stock. The negative P/E ratio and lack of dividend yield highlight valuation concerns, making it less attractive to potential investors.
To see Spark’s full report on TSE:PNGC stock, click here.
More about PNG Copper Inc
Average Trading Volume: 31,449
Technical Sentiment Signal: Sell
Current Market Cap: C$1.1M
For a thorough assessment of PNGC stock, go to TipRanks’ Stock Analysis page.