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An announcement from Origen Resources ( (TSE:ORGN) ) is now available.
Origen Resources will proceed with the acquisition of two rare earth element licences covering 3,978 hectares in an emerging REE district in Brazil’s Piauí State, after completing a positive due diligence fieldwork program that confirmed evidence of REE mineralization and strong basin-scale exploration potential. Field investigations, including soil and rock sampling, handheld XRF analysis, SEM work and radiometric surveying, indicate REE enrichment associated with laterites, phosphate nodules and shallow-dipping strata, providing a clear framework for future target generation and follow-up exploration. Under the agreed terms, Origen will acquire a 90% interest in the licences by paying US$50,000, issuing 2 million shares, and spending US$1 million on exploration within two years, after which the vendor will receive additional shares to reach 15% ownership and a board seat, while also granting Origen a right of first refusal over five analogous concessions in the same region, consolidating a potential first-mover, basin-scale land position in this emerging Brazilian REE district.
Spark’s Take on TSE:ORGN Stock
According to Spark, TipRanks’ AI Analyst, TSE:ORGN is a Neutral.
Origen Resources, Inc. is currently facing significant financial challenges, with persistent losses and cash flow issues overshadowing the positive aspects such as the absence of debt and recent corporate developments. Technical indicators show mild bullish sentiment, but valuation remains a concern due to negative earnings. The recent corporate initiative at the Los Sapitos Lithium Project provides a potential growth avenue, but strategic improvements in financial management are critical for future stability.
To see Spark’s full report on TSE:ORGN stock, click here.
More about Origen Resources
Origen Resources Inc. is a Canadian exploration company focused on critical and precious metals, including a new rare earth elements (REE) acquisition in Brazil, its 100%-owned Los Sapitos lithium project in Argentina, and the Wishbone gold-silver project in British Columbia’s Golden Triangle, alongside three additional wholly owned precious and base metal projects in southern British Columbia.
Average Trading Volume: 67,479
Technical Sentiment Signal: Buy
Current Market Cap: C$4.62M
See more insights into ORGN stock on TipRanks’ Stock Analysis page.