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Metals Creek Resources ( (TSE:MEK) ) just unveiled an announcement.
Metals Creek Resources Corp. has acquired the remaining 0.5% net smelter return (NSR) royalty on its Tillex property in Currie Township, 65 km east of Timmins, Ontario, from Blue Moon Metals Inc., thereby consolidating its economic interest in the project. The royalty buyout, paid through the issuance of 50,000 common shares and subject to TSX Venture Exchange approval, simplifies the ownership structure of the Tillex asset and could enhance future project economics and flexibility for Metals Creek as it advances its exploration portfolio in the Timmins mining camp.
The most recent analyst rating on (TSE:MEK) stock is a Hold with a C$0.03 price target. To see the full list of analyst forecasts on Metals Creek Resources stock, see the TSE:MEK Stock Forecast page.
Spark’s Take on TSE:MEK Stock
According to Spark, TipRanks’ AI Analyst, TSE:MEK is a Neutral.
The score is held down primarily by weak financial performance (pre-revenue, ongoing losses, and persistent cash burn with a shrinking equity base). Technicals and recent exploration/financing updates provide some support, but valuation remains unattractive/indeterminate due to negative earnings and no dividend.
To see Spark’s full report on TSE:MEK stock, click here.
More about Metals Creek Resources
Metals Creek Resources Corp. is a junior mineral exploration company based in Ontario and listed on the TSX Venture Exchange under the symbol MEK, with additional listings in Frankfurt. The company focuses on gold exploration, notably a 50% interest in the Ogden Gold Property near Timmins, Ontario, which includes the former Naybob Gold mine and covers an 8 km strike length of the Porcupine-Destor Fault, and it also maintains a portfolio of other exploration projects available for option.
Average Trading Volume: 335,626
Technical Sentiment Signal: Buy
Current Market Cap: C$7.74M
For detailed information about MEK stock, go to TipRanks’ Stock Analysis page.