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Mammoth Resources ( (TSE:MTH) ) has shared an update.
Mammoth Resources reported new metallurgical test results from oxidized, near-surface mineralized material at the Carneritos area of its Tenoriba gold-silver project in Mexico, with bottle roll tests on coarser material (minus 10 mesh) achieving 87% gold and 67% silver recoveries. The company noted that these recoveries are comparable to, or better than, earlier tests on much finer material and that most of the metal leaches within the first 12 hours, reinforcing the potential for efficient heap leach processing and low-cost precious metal production from the large Carneritos zone. Management highlighted that similar recoveries were obtained in earlier tests from the nearby Masuparia area, and said the results support advancing a series of de-risking steps, including further column testing on even coarser fractions, locating higher-grade near-surface zones for pilot-scale extraction, and preparing for shallow drilling aimed at defining an initial mineral resource at Carneritos.
The most recent analyst rating on (TSE:MTH) stock is a Hold with a C$0.06 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, persistent losses, cash burn, negative equity, and rising debt). Technical indicators are neutral-to-mixed and provide only modest support, while valuation metrics are unfavorable due to the negative P/E and lack of dividend yield.
To see Spark’s full report on TSE:MTH stock, click here.
More about Mammoth Resources
Mammoth Resources Corp. is a Canadian mineral exploration company focused on advancing its 100%-owned Tenoriba gold-silver project in Chihuahua State, Mexico. The company is targeting near-surface, oxidized precious metal mineralization with an apparent emphasis on low-cost heap leach processing and potential future commercial-scale production.
Average Trading Volume: 70,503
Technical Sentiment Signal: Buy
Current Market Cap: C$5.86M
Learn more about MTH stock on TipRanks’ Stock Analysis page.