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Minnova ( (TSE:MCI) ) has shared an announcement.
Minnova Corp. has engaged Manitoba-based industrial power contractor Amps Powerline Inc. to manage the reconnection of its PL Gold Mine to the Manitoba Hydro grid and to oversee site power distribution and refurbishment of electrical systems for the crushing and process plant. The mandate leverages Minnova’s existing 22-kilometre power line and mine-site distribution infrastructure and represents a key step in advancing the PL Gold Mine toward a restart, supporting the company’s broader plan to update its mine development strategy and feasibility work and positioning it to capitalize on higher gold prices and expanded resources once operations resume.
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. is a near-term gold producer focused on restarting and expanding its 100%-owned PL Gold Mine in the Flin Flon Greenstone Belt of central Manitoba. The past-producing site hosts significant existing infrastructure, including a 1,000-tonne-per-day processing plant and a valid underground mining permit, and the company is revising its mine development plan to emphasize lower-cost open-pit mining in the early years before transitioning to underground operations, while also preparing updated resource estimates and economic studies based on current gold prices and new drilling.
Average Trading Volume: 293,356
Technical Sentiment Signal: Buy
Current Market Cap: C$15.11M
For an in-depth examination of MCI stock, go to TipRanks’ Overview page.