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Pacific Ridge Exploration ( (TSE:PEX) ) has shared an announcement.
Pacific Ridge Exploration Ltd. has commenced a 2,500-meter drill program at its Kliyul copper-gold project in British Columbia, targeting the Kliyul Main Zone for infill and resource expansion. The Kliyul Main Zone hosts significant inferred mineral resources, including copper, gold, and silver, and remains open for further expansion. This development marks a strategic step for Pacific Ridge as it seeks to enhance its resource base and strengthen its position in the mining sector.
Spark’s Take on TSE:PEX Stock
According to Spark, TipRanks’ AI Analyst, TSE:PEX is a Underperform.
Pacific Ridge Exploration faces significant financial challenges with persistent net losses and negative cash flow. The technical analysis shows a bearish trend, compounding the company’s valuation concerns. While the recent capital raise is a positive step, it does not offset the broader financial and operational difficulties, resulting in a low overall stock score.
To see Spark’s full report on TSE:PEX stock, click here.
More about Pacific Ridge Exploration
Pacific Ridge Exploration Ltd. is a company operating in the mining industry, focusing on the exploration and development of copper and gold projects. The company is primarily engaged in advancing its Kliyul copper-gold project located in the Quesnel terrane of north-central British Columbia, which is known for its rich mineral deposits.
Average Trading Volume: 84,339
Technical Sentiment Signal: Sell
Current Market Cap: C$7.68M
For a thorough assessment of PEX stock, go to TipRanks’ Stock Analysis page.