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NGEx Minerals ( (TSE:NGEX) ) just unveiled an announcement.
NGEx Minerals reported strong new drill results from the ongoing Phase 4 drill program at its 100%-owned Lunahuasi project in Argentina, highlighted by a 94-metre intercept grading 8.99% copper equivalent, including 21.7 metres at 31.92% copper equivalent with very high gold grades in the Mars Zone, and a 327.4-metre interval at 3.74% copper equivalent in the Saturn Zone. With more than 12,000 metres drilled so far this season, eight rigs active, and 12 holes completed, the results continue to validate and extend the Mars, Jupiter and Saturn zones while underscoring Lunahuasi’s significant gold endowment across the deposit, positioning the project for a major resource expansion and supporting NGEx’s strategy to grow its high-grade copper-gold-silver footprint in the region.
The most recent analyst rating on (TSE:NGEX) stock is a Hold with a C$25.00 price target. To see the full list of analyst forecasts on NGEx Minerals stock, see the TSE:NGEX Stock Forecast page.
Spark’s Take on TSE:NGEX Stock
According to Spark, TipRanks’ AI Analyst, TSE:NGEX is a Neutral.
The score is held back primarily by weak financial performance (no revenue, widening losses, and heavy cash burn), despite low leverage. Offsetting factors include supportive technical positioning and a favorable run of corporate updates (funding secured, positive exploration results, and the LunR Royalties spinout/listing). Valuation remains difficult to support using earnings metrics due to ongoing losses.
To see Spark’s full report on TSE:NGEX stock, click here.
More about NGEx Minerals
NGEx Minerals Ltd. is a Canadian exploration company focused on high-grade copper, gold and silver deposits, with its flagship Lunahuasi project located in San Juan, Argentina. The company targets large-scale, high-grade mineral systems and is currently advancing Lunahuasi through multi-phase drilling to define and expand its resource base across several mineralized zones.
YTD Price Performance: 7.19%
Average Trading Volume: 428,458
Technical Sentiment Signal: Buy
Current Market Cap: C$6.13B
For an in-depth examination of NGEX stock, go to TipRanks’ Overview page.