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An announcement from Nine Mile Metals Ltd ( (TSE:NINE) ) is now available.
Nine Mile Metals has maintained its option to acquire 100% of the Wedge Project by making its third anniversary payment, consisting of a $40,000 cash payment and the issuance of 300,000 common shares to Slam Exploration. One final payment milestone in 2027 remains before Nine Mile secures full ownership, underscoring the strategic importance of the 35.83 km² Wedge VMS Project, which hosts multiple high-priority targets along an 8 km exploration trend.
The company recently completed its Fall 2025 Phase 2 drill program at the Wedge Mine, with results to date suggesting the deposit is larger and higher grade than previously defined, including extensions to the east, at depth, and to the southwest. Nine Mile plans a Phase 3 drill program at the Wedge Mine, alongside a 2026 drill campaign at the West Wedge and Tribag zones, and has engaged Generation IACP Inc. to provide market making and analytical trading services to support share liquidity and investor visibility.
The most recent analyst rating on (TSE:NINE) stock is a Hold with a C$0.08 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 primarily held back by weak financial performance (pre-revenue, recurring losses, and ongoing cash burn) and bearish technical momentum (below key moving averages with negative MACD and weak RSI/Stoch). Low leverage and a still-solid equity base provide some support, but negative earnings also limit valuation confidence.
To see Spark’s full report on TSE:NINE stock, click here.
More about Nine Mile Metals Ltd
Nine Mile Metals Ltd. is a Canadian mineral exploration company focused on volcanogenic massive sulfide projects, with a key emphasis on the Wedge VMS Project in New Brunswick. The company targets high-grade copper and associated base metal deposits, aiming to expand known resources through staged drilling programs and strategic property acquisitions.
Average Trading Volume: 1,605,344
Technical Sentiment Signal: Hold
Current Market Cap: C$14.83M
For detailed information about NINE stock, go to TipRanks’ Stock Analysis page.