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Nine Mile Metals Ltd ( (TSE:NINE) ) has provided an update.
Nine Mile Metals has begun Phase 1 bulk sample metallurgical work on its Nine Mile Brook high-grade lens, averaging 13.71% CuEq over 15.10 metres, in collaboration with SGS Canada and Glencore Canada. Two one-tonne representative samples and an entire high-grade copper drill core interval will be shipped to SGS for preparation, mineralogical scanning, hardness testing and flotation studies, with select material forwarded to Glencore’s Horne Smelter for IsaMILL-based ultrafine grinding and metallurgical analysis.
The program aims to evaluate copper and polymetallic recoveries, including previously identified anomalous indium, and to assess the viability of a direct-to-smelter option using Glencore’s proprietary technology. Positive metallurgical performance from these tests could materially influence development decisions at Nine Mile Brook, strengthen the project’s economic profile and enhance the company’s positioning in the base and critical metals supply chain.
The most recent analyst rating on (TSE:NINE) stock is a Sell with a C$0.09 price target. To see the full list of analyst forecasts on Nine Mile Metals Ltd stock, see the TSE:NINE Stock Forecast page.
Spark’s Take on TSE:NINE Stock
According to Spark, TipRanks’ AI Analyst, TSE:NINE is a Neutral.
The score is held down primarily by pre-revenue fundamentals with ongoing losses and negative free cash flow (funding risk), despite a relatively clean, low-debt balance sheet and improving cash burn. Technical indicators are neutral-to-soft and do not offset the fundamental risk, while valuation support is limited by a negative P/E and no dividend yield data.
To see Spark’s full report on TSE:NINE stock, click here.
More about Nine Mile Metals Ltd
Nine Mile Metals Ltd. is a mineral exploration company focused on volcanogenic massive sulphide deposits, including high-grade copper, lead, zinc, silver, gold and critical minerals such as indium. The company is advancing its Nine Mile Brook project in Canada, targeting potential direct-to-smelter material for base metal production.
YTD Price Performance: -57.45%
Average Trading Volume: 1,871,344
Technical Sentiment Signal: Buy
Current Market Cap: C$18.54M
See more data about NINE stock on TipRanks’ Stock Analysis page.