Minnova Corp. Plans 2025 Gold Mine Restart with Updated Feasibility Study

Minnova ( (TSE:MCI) ) has shared an announcement.

Minnova Corp. has announced plans to restart its PL Gold Mine operations in 2025, with an updated feasibility study expected in 2026. The company aims to optimize its mine development plan by initially focusing on open pit operations before transitioning to underground mining, driven by the current high gold prices. The plans include resource expansion and infill drilling, metallurgical programs to improve gold recovery, and exploration of the Nokomis Deposit. These efforts are expected to enhance the company’s operational efficiency and potentially expand its gold production, positioning Minnova favorably in the market.

Spark’s Take on TSE:MCI Stock

According to Spark, TipRanks’ AI Analyst, TSE:MCI is a Underperform.

Minnova exhibits severe financial weaknesses with no revenue, negative equity, and persistent losses, which heavily weigh down its stock score. Technical analysis shows a lack of clear momentum, neither indicating a strong buy nor sell signal. Valuation is impaired by ongoing losses and the absence of a dividend yield. The stock is extremely risky due to its financial instability, overshadowing any neutral technical indicators.

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

More about Minnova

Minnova Corp. operates in the mining industry, focusing on the development and restart of gold mining operations. The company is primarily engaged in advancing the PL Gold Mine, an advanced development stage gold project, and is working on optimizing its mine development plan to enhance gold production.

Average Trading Volume: 184,932

Technical Sentiment Signal: Sell

Current Market Cap: C$3.52M

Learn more about MCI stock on TipRanks’ Stock Analysis page.