Millennial Potash Announces Major Resource Estimate Increase at Banio Project

Millennial Potash ( (TSE:MLP) ) has shared an announcement.

Millennial Potash Corp. has reported a substantial increase in its mineral resource estimates for the Banio Potash Project in Gabon, with Measured and Indicated resources rising by 275% and Inferred resources by 210%. This significant growth highlights the project’s potential, covering only a small portion of the area, and supports plans for future production expansion and a feasibility study backed by a $3 million funding from the U.S. International Development Finance Corp.

The most recent analyst rating on (TSE:MLP) stock is a Buy with a C$2.61 price target. To see the full list of analyst forecasts on Millennial Potash stock, see the TSE:MLP Stock Forecast page.

Spark’s Take on TSE:MLP Stock

According to Spark, TipRanks’ AI Analyst, TSE:MLP is a Neutral.

Millennial Potash’s stock exhibits a mixed outlook. The primary concern lies in its financial performance, with no revenue and operational inefficiencies. However, strong technical momentum and positive corporate events provide some optimism for future growth. The poor valuation metrics due to negative earnings and lack of dividends further weigh down the score. Improvement in revenue generation and operational execution will be crucial for enhancing the stock’s attractiveness.

To see Spark’s full report on TSE:MLP stock, click here.

More about Millennial Potash

Millennial Potash Corp. operates in the potash industry, focusing on the exploration and development of potash resources. Its primary project is the Banio Potash Project located in the West-African Evaporite Basin, known for its potash deposits.

Average Trading Volume: 403,438

Technical Sentiment Signal: Buy

Current Market Cap: C$260.2M

For detailed information about MLP stock, go to TipRanks’ Stock Analysis page.