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Metals Creek Resources ( (TSE:MEK) ) just unveiled an announcement.
Metals Creek Resources has agreed to sell its 85% interest in the Tillex Copper-Silver Project in Ontario’s Timmins mining district to Australian-listed Aruma Resources, allowing Aruma to assume full ownership of the patented claims and proceed with immediate exploration and resource development work, including a maiden resource estimate. The transaction enables Metals Creek to sharpen its focus on its Ogden Gold Project while retaining indirect exposure to Tillex’s potential through equity in Aruma, a move that could streamline its operations and reposition the company more squarely around gold exploration while still participating in any future value created from the copper-silver asset.
The most recent analyst rating on (TSE:MEK) stock is a Hold with a C$0.04 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 mineral exploration company listed on the TSX Venture Exchange and the Frankfurt Stock Exchange, focused on discovering and advancing base and precious metal projects in mining-friendly jurisdictions such as Ontario, Canada. Its portfolio has included the Tillex Copper-Silver Project in the Timmins mining district and the Ogden Gold Project, with a strategic emphasis on drill-defined assets offering strong exploration upside.
Average Trading Volume: 210,766
Technical Sentiment Signal: Buy
Current Market Cap: C$6.77M
See more data about MEK stock on TipRanks’ Stock Analysis page.