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An announcement from Mammoth Resources ( (TSE:MTH) ) is now available.
Mammoth Resources Corp. reported that all matters put to shareholders at its recent annual and special meeting were approved, including the election of six directors, reappointment of its auditors and confirmation of its rolling 10% stock option plan, reinforcing the current governance structure and providing continuity in oversight. Operationally, the company outlined progress at its Tenoriba gold-silver property in Mexico, where it is advancing planning and permitting for a resource definition drilling program and metallurgical work to assess heap leach recoveries and potential pilot-scale production at the Carneritos area, while, in parallel with strategic partner RM Mineria, it is pursuing the acquisition of near-term or operating precious and precious-with-base-metal mines in Mexico; management highlighted that stronger gold and silver prices and the new alliance have improved Mammoth’s positioning to both advance Tenoriba and expand its asset base after a challenging period for exploration financing.
The most recent analyst rating on (TSE:MTH) stock is a Hold with a C$0.07 price target. To see the full list of analyst forecasts on Mammoth Resources stock, see the TSE:MTH Stock Forecast page.
Spark’s Take on TSE:MTH Stock
According to Spark, TipRanks’ AI Analyst, TSE:MTH is a Neutral.
The score is held down primarily by weak financial performance (no revenue, ongoing losses and cash burn, negative equity, and rising debt). Technicals are a partial offset with the price trending above major moving averages, but overbought momentum readings add pullback risk. Valuation remains unattractive due to loss-making earnings and no dividend support.
To see Spark’s full report on TSE:MTH stock, click here.
More about Mammoth Resources
Mammoth Resources Corp. is a Canadian-listed precious metals exploration company focused on acquiring and defining gold and silver resources in Mexico and other mining-friendly jurisdictions in the Americas. Its flagship asset is the 5,333-hectare Tenoriba gold property in the Sierra Madre Precious Metal Belt in southwestern Chihuahua State, Mexico, where the company holds a 100% interest subject to a modest net smelter royalty, and it is actively seeking additional exploration and development projects with above-average potential precious metals grades.
Average Trading Volume: 61,771
Technical Sentiment Signal: Buy
Current Market Cap: C$7.46M
For an in-depth examination of MTH stock, go to TipRanks’ Overview page.