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Orex Minerals ( (TSE:REX) ) just unveiled an update.
Orex Minerals has agreed to sell its 38.79% interest in the Coneto Silver-Gold Project in Durango, Mexico, to Silver Viper Minerals Corp., alongside partner Fresnillo plc, in an all-share deal valued at US$15 million. The Coneto Project, a historic and prolific silver-gold district with extensive mapped epithermal quartz veins, will be fully consolidated under Silver Viper, which will issue 25,531,875 shares to the vendors at a deemed price of C$0.80 per share.
On closing, Orex will receive its pro-rata portion of Silver Viper shares, retaining indirect exposure to Coneto’s exploration upside and to Silver Viper’s La Virginia Gold-Silver Project while exiting as a direct joint-venture participant. The transaction, classified as non-arm’s length due to a shared director and subject to TSX Venture Exchange approval and customary conditions, is positioned by Orex as a way to unlock shareholder value and shift the project to a dedicated Mexican-focused operator, potentially sharpening Orex’s strategic focus on its remaining Mexican and Canadian exploration assets.
The most recent analyst rating on (TSE:REX) stock is a Hold with a C$0.35 price target. To see the full list of analyst forecasts on Orex Minerals stock, see the TSE:REX Stock Forecast page.
Spark’s Take on REX Stock
According to Spark, TipRanks’ AI Analyst, REX is a Neutral.
The score is held down primarily by very weak financial performance (no revenue, sustained losses, and continued cash burn with shrinking equity). Technical momentum is a key offset (price above major moving averages with positive MACD), while valuation provides limited support due to negative earnings and no dividend yield data.
To see Spark’s full report on REX stock, click here.
More about Orex Minerals
Orex Minerals Inc. is a precious and base metals exploration company with projects in Mexico and Canada. Its portfolio includes the Sandra Silver-Gold Project in Durango, Mexico, in partnership with Pan American Silver Corp., and the Jumping Josephine Gold Project in British Columbia, Canada, led by an experienced team focused on value creation through strategic project advancement and partnerships.
Average Trading Volume: 211,194
Technical Sentiment Signal: Hold
Current Market Cap: C$12.68M
For an in-depth examination of REX stock, go to TipRanks’ Overview page.