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Nine Mile Metals Ltd ( (TSE:NINE) ) just unveiled an update.
Nine Mile Metals reported certified assay results from surface VMS mineralization at its Wedge Project in New Brunswick, with multiple grab samples grading above 10% copper and peak values reaching 15% copper and more than 16% copper equivalent. The company says the massive sulphide mineralization and visible high-grade copper minerals align with what it is encountering in its initial drill holes, reinforcing confidence in the Wedge program’s potential and supporting its strategy of targeting a high-grade, copper-rich deposit ahead of forthcoming certified drill core assays.
Spark’s Take on TSE:NINE Stock
According to Spark, TipRanks’ AI Analyst, TSE:NINE is a Underperform.
Nine Mile Metals Ltd faces critical financial difficulties, with no revenue and ongoing losses resulting in low financial performance. The technical analysis shows a bearish outlook, compounded by poor valuation metrics. However, recent corporate actions, such as financing and leadership changes, provide a glimmer of hope for improved future performance. Overall, the stock carries significant risk due to its current financial instability.
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 public mineral exploration company focused on volcanogenic massive sulphide (VMS) targets, with projects in the prolific Bathurst Mining Camp in New Brunswick, a historic base metals district known for high-grade copper and associated polymetallic deposits.
YTD Price Performance: 1050.0%
Average Trading Volume: 1,351,012
Technical Sentiment Signal: Buy
Current Market Cap: C$19.47M
Find detailed analytics on NINE stock on TipRanks’ Stock Analysis page.