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An update from Pacific Ridge Exploration ( (TSE:PEX) ) is now available.
Pacific Ridge Exploration Ltd. has commenced drilling at its RDP copper-gold project in British Columbia’s Golden Horseshoe. The project, which previously yielded one of B.C.’s best porphyry copper-gold intervals, aims to drill a minimum of 1,500 meters at the Day target this year. The Toodoggone district, where RDP is located, is gaining attention due to recent discoveries, positioning Pacific Ridge favorably within the exploration sector. The ongoing exploration could have significant implications for the company’s operations and its stakeholders, as the mineralization at the Day target remains open in multiple directions, suggesting the potential for further discoveries.
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 Fiore Group company focused on becoming British Columbia’s leading copper exploration company. Its flagship project is the Kliyul copper-gold project located in the Quesnel terrane, and its portfolio includes several other copper-gold projects in B.C., such as RDP, Chuchi, Onjo, and Redton.
Average Trading Volume: 76,168
Technical Sentiment Signal: Sell
Current Market Cap: C$10.75M
For an in-depth examination of PEX stock, go to TipRanks’ Overview page.