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The latest update is out from Minnova ( (TSE:MCI) ).
Minnova Corp. announced updates on its PL Gold Mine restart plan, aiming for near-term gold production. The company plans to complete a Preliminary Economic Assessment by Q1 2026, followed by a Feasibility Study by Q3 2026, with a focus on cost-effective open pit mining. The engagement of AECOM for environmental compliance and the expansion of the drill program to 15,000 meters demonstrate Minnova’s commitment to advancing the project and securing necessary permits.
Spark’s Take on TSE:MCI Stock
According to Spark, TipRanks’ AI Analyst, TSE:MCI is a Underperform.
Minnova’s stock is highly risky primarily due to severe financial weaknesses, with no revenue, negative equity, and persistent losses. While technical analysis shows neutrality, the lack of clear momentum does not offset financial instability. The company’s plans for mine restart are positive but have yet to materialize, limiting their immediate impact. Overall, the stock is categorized as underperforming given the significant financial challenges.
To see Spark’s full report on TSE:MCI stock, click here.
More about Minnova
Minnova Corp. operates in the mining industry, focusing on gold production. The company’s primary project is the PL Gold Mine, where it is working on restarting operations to transition from open pit to underground mining.
Average Trading Volume: 349,862
Technical Sentiment Signal: Buy
Current Market Cap: C$28.64M
See more data about MCI stock on TipRanks’ Stock Analysis page.