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The latest announcement is out from P2 Gold ( (TSE:PGLD) ).
P2 Gold has signed a definitive agreement through its subsidiary P2 Gabbs Inc. to acquire 2,500 acre-feet per year of water rights in Nevada’s Gabbs Basin for its Gabbs Project. The water rights, which exceed the project’s current estimated annual process water needs of about 1,500 acre-feet, are intended to be converted from irrigation to mining, milling, and dewatering uses, subject to regulatory approval.
Approval from the Nevada Division of Water Resources is expected within six to twelve months, aligning with the planned completion of the Gabbs feasibility study at year-end. Securing surplus water capacity strengthens the project’s operational foundation and supports potential future expansion, reinforcing P2 Gold’s efforts to advance Gabbs toward development with an updated mineral resource estimate targeted for the third quarter.
The most recent analyst rating on (TSE:PGLD) stock is a Sell with a C$0.52 price target. To see the full list of analyst forecasts on P2 Gold stock, see the TSE:PGLD Stock Forecast page.
Spark’s Take on PGLD Stock
According to Spark, TipRanks’ AI Analyst, PGLD is a Neutral.
The score is held down primarily by weak financial performance (no revenue, ongoing losses and cash burn, and reliance on external financing), despite some balance-sheet improvement in 2025. Technicals also remain bearish with negative trend signals, while valuation is difficult to assess due to negative earnings and no dividend support.
To see Spark’s full report on PGLD stock, click here.
More about P2 Gold
P2 Gold Inc. is a mineral exploration and development company focused on advancing its gold-copper Gabbs Project on Nevada’s Walker Lane Trend. The project targets a long-life, mid-size mine with projected average annual production of 109,000 ounces of gold and 15,000 tonnes of copper over 14.2 years, supported by existing highway, power, and water infrastructure and ongoing infill and expansion drilling.
Average Trading Volume: 811,011
Technical Sentiment Signal: Buy
Current Market Cap: C$195.6M
For a thorough assessment of PGLD stock, go to TipRanks’ Stock Analysis page.