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The latest announcement is out from Pacific Ridge Exploration ( (TSE:PEX) ).
Pacific Ridge Exploration Ltd. has provided an update on its drilling activities at the Kliyul and RDP copper-gold projects. At Kliyul, two drill holes totaling 1,287 meters were completed to expand resources at the Kliyul Main Zone, which holds significant inferred mineral resources. At RDP, five drill holes totaling 2,156 meters focused on the Day target, known for its promising porphyry copper-gold intervals. The drilling at both sites revealed strong copper mineralization, indicating potential for resource expansion and enhancing the company’s position in the copper-gold exploration 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 exploring its Kliyul and RDP copper-gold projects located in British Columbia’s Golden Horseshoe, at the southern end of the Toodoggone district.
Average Trading Volume: 160,836
Technical Sentiment Signal: Sell
Current Market Cap: C$7.49M
See more insights into PEX stock on TipRanks’ Stock Analysis page.