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Midnight Sun Mining ( (TSE:MMA) ) has provided an announcement.
Midnight Sun Mining announced a maiden mineral resource estimate for its near-surface Kazhiba Main Oxide Copper Deposit in Solwezi, Zambia, outlining 2.33 million tonnes of Indicated resources grading 1.41% copper at a 0.10% Cu cut-off, prepared in accordance with CIM standards and NI 43-101 guidelines. The deposit, characterized by shallow, acid-soluble malachite mineralization amenable to low-cost heap leach processing and located close to existing infrastructure and the Kansanshi Mine, is intended to be monetized as a non-dilutive funding source to advance the company’s flagship Dumbwa Project, marking a key milestone that could strengthen Midnight Sun’s financial flexibility and strategic position in the Zambian copper sector.
The most recent analyst rating on (TSE:MMA) stock is a Hold with a C$2.00 price target. To see the full list of analyst forecasts on Midnight Sun Mining stock, see the TSE:MMA Stock Forecast page.
Spark’s Take on TSE:MMA Stock
According to Spark, TipRanks’ AI Analyst, TSE:MMA is a Neutral.
The score is held back primarily by weak financial performance (pre-revenue, widening losses, and increasing cash burn despite low leverage). Technicals are a meaningful positive with strong momentum above key moving averages, but overbought readings add near-term risk. Valuation is also a drag due to negative earnings and no dividend support.
To see Spark’s full report on TSE:MMA stock, click here.
More about Midnight Sun Mining
Midnight Sun Mining Corp. is a Vancouver-based mineral exploration company focused on copper projects in Zambia, particularly near the Kansanshi mining district in Solwezi. The company’s portfolio includes the flagship Dumbwa Project and the Kazhiba Main Oxide Copper Deposit, where it targets near-surface, acid-soluble copper resources with the aim of generating value through exploration, resource definition and potential project monetization within a strong regional infrastructure setting.
Average Trading Volume: 479,503
Technical Sentiment Signal: Buy
Current Market Cap: C$354.9M
See more data about MMA stock on TipRanks’ Stock Analysis page.