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The latest announcement is out from Meridian Mining SE ( (TSE:MNO) ).
Meridian Mining has updated the measured and indicated mineral resource estimate for its Cabaçal gold-copper-silver project, expanding the open-pittable resource to 70.1 million tonnes grading 0.6 g/t gold, 0.3% copper and 1.3 g/t silver, representing significant increases in contained metal and leaving mineralization open at depth. The company also declared a maiden open-pittable resource at the nearby Santa Helena Central deposit, totalling 5.3 million tonnes with gold, copper, silver, zinc and lead, and reported that its granted exploration rights across the Cabaçal, Jauru and Araputanga greenstone belts have more than doubled, reinforcing the potential for the Cabaçal VMS Belt to emerge as a multi-hub mining district and supporting the ongoing definitive feasibility and exploration programs in Brazil.
The most recent analyst rating on (TSE:MNO) stock is a Hold with a C$1.50 price target. To see the full list of analyst forecasts on Meridian Mining SE stock, see the TSE:MNO Stock Forecast page.
Spark’s Take on TSE:MNO Stock
According to Spark, TipRanks’ AI Analyst, TSE:MNO is a Neutral.
The score is held back primarily by very weak financial performance (no reported revenue, sizeable losses, and ongoing cash burn), partially offset by a debt-free balance sheet with improved equity. Technicals and recent positive project/regulatory milestones support near-term sentiment, but valuation is constrained by negative earnings and the lack of a dividend yield.
To see Spark’s full report on TSE:MNO stock, click here.
More about Meridian Mining SE
Meridian Mining plc is a multi-listed mineral exploration and development company focused on advancing its Cabaçal and Santa Helena volcanogenic massive sulphide (VMS) belt projects in the state of Mato Grosso, Brazil. The company’s primary commodities are gold, copper and silver, with additional exposure to zinc and lead, and it is progressing Cabaçal through advanced permitting toward a definitive feasibility study while expanding its exploration footprint across the Cabaçal, Jauru and Araputanga greenstone belts.
Average Trading Volume: 422,033
Technical Sentiment Signal: Buy
Current Market Cap: C$648.9M
For detailed information about MNO stock, go to TipRanks’ Stock Analysis page.