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Magna Terra Minerals Inc ( (TSE:MTT) ) has shared an announcement.
Magna Terra Minerals Inc. has signed a non-binding Letter of Intent with Andean Metals Corp., granting Andean the right to acquire a 100% interest in the Luna Roja and Boleadora projects in Argentina. This agreement, valued at C$3,750,000, will be executed through cash and share payments over five years. Magna Terra retains a 2% net smelter royalty on Boleadora, with a cap of US$20,000,000. The partnership aims to leverage Magna Terra’s extensive project portfolio while providing Andean Metals a foothold in a promising gold-silver belt, enhancing exploration and potential discoveries in the region.
Spark’s Take on TSE:MTT Stock
According to Spark, TipRanks’ AI Analyst, TSE:MTT is a Neutral.
Magna Terra Minerals Inc. presents a mixed outlook with strengths in recent financial improvements and strategic corporate developments. However, typical challenges of the exploration phase, such as no revenue and negative equity, persist. Technical indicators show a neutral to slightly bearish trend, while valuation suggests potential undervaluation. Overall, the company’s prospects are cautiously optimistic if financial improvements and strategic initiatives are sustained.
To see Spark’s full report on TSE:MTT stock, click here.
More about Magna Terra Minerals Inc
Magna Terra Minerals Inc. operates in the mining industry, focusing on the exploration and development of precious metals projects. The company is engaged in advancing its portfolio of exploration assets, particularly in geologically prospective regions like the Deseado Massif in Santa Cruz Province, Argentina.
Average Trading Volume: 134,399
Technical Sentiment Signal: Buy
Current Market Cap: C$8.72M
For detailed information about MTT stock, go to TipRanks’ Stock Analysis page.