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An announcement from New Break Resources Ltd. ( (TSE:NBRK) ) is now available.
New Break Resources has resumed drilling at its Moray gold project in Ontario, launching the first phase of a 2026 program that plans for 10,000 metres of drilling, beginning with at least 2,500 metres over approximately two months. The campaign will focus on expanding the newly discovered Zavitz gold zone, where the 2025 maiden drill program returned broad, consistent gold intercepts, and will also test two additional high-priority targets associated with regional structural features and syenite contacts. Management describes the Zavitz discovery as one of the more significant grassroots finds in the Ontario Abitibi in recent decades and, supported by a cash position of about $2.8 million and QA/QC procedures aligned with industry best practices, sees continued exploration success at Moray as a potential driver of shareholder value in the current strong gold-price environment.
The most recent analyst rating on (TSE:NBRK) stock is a Hold with a C$0.22 price target. To see the full list of analyst forecasts on New Break Resources Ltd. stock, see the TSE:NBRK Stock Forecast page.
Spark’s Take on TSE:NBRK Stock
According to Spark, TipRanks’ AI Analyst, TSE:NBRK is a Neutral.
The score is primarily held back by weak financial fundamentals typical of a junior explorer (no revenue, ongoing losses and cash burn) and an unattractive valuation signal (very high P/E with no dividend). Technicals are also soft with price below key moving averages, partly offset by an oversold reading. Recent corporate updates are constructive (drilling progress, land expansion, and financing), but they do not fully offset the underlying funding dependence and lack of operating cash generation.
To see Spark’s full report on TSE:NBRK stock, click here.
More about New Break Resources Ltd.
New Break Resources Ltd. is a Canadian mineral exploration company focused on its 100%-owned Moray gold project, located 49 km south of Timmins, Ontario, in the Abitibi gold belt and near existing mining infrastructure, including Alamos Gold’s Young-Davidson mine. The company also maintains exposure to exploration upside in Nunavut through a 20% carried interest in the Sundog gold project and is supported by an experienced team of mining professionals.
Average Trading Volume: 140,212
Technical Sentiment Signal: Buy
Current Market Cap: C$16.76M
For a thorough assessment of NBRK stock, go to TipRanks’ Stock Analysis page.