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The latest announcement is out from Prismo Metals Inc. ( (TSE:PRIZ) ).
Prismo Metals has agreed to increase its ownership in the Hot Breccia copper project in Arizona from 75% to 95% by acquiring an additional 20% stake from Infinitum Copper for C$185,000 in cash and shares, and it has secured an irrevocable option to purchase the remaining 5%, providing a clear route to full control. The deal, which shifts Infinitum’s remaining obligations under the underlying option agreement to Prismo and is expected to close around January 16, 2025, significantly enhances Prismo’s strategic flexibility to fund drilling and pursue partnerships without drawing on working capital earmarked for its Silver King project, positioning Hot Breccia as a potential flagship copper exploration asset within one of North America’s most prospective copper districts.
The most recent analyst rating on (TSE:PRIZ) stock is a Hold with a C$0.12 price target. To see the full list of analyst forecasts on Prismo Metals Inc. stock, see the TSE:PRIZ Stock Forecast page.
Spark’s Take on TSE:PRIZ Stock
According to Spark, TipRanks’ AI Analyst, TSE:PRIZ is a Neutral.
The score is held back mainly by weak financial performance (no revenue, ongoing losses, and negative cash flow), partly offset by a clean, low-debt balance sheet. Technicals are moderately supportive with price above key moving averages and a positive MACD, while valuation is limited by negative earnings and no dividend. Corporate events are a modest positive due to encouraging assay results and secured funding, though dilution risk remains.
To see Spark’s full report on TSE:PRIZ stock, click here.
More about Prismo Metals Inc.
Prismo Metals Inc. is a mineral exploration company focused on advancing precious and base metal projects, notably its Hot Breccia copper project in Arizona’s prolific copper belt and the Silver King project. The company targets high-potential copper and silver assets in North America, aiming to delineate significant mineral resources through modern exploration techniques and strategic project consolidation.
Average Trading Volume: 208,077
Technical Sentiment Signal: Hold
Current Market Cap: C$12.75M
For an in-depth examination of PRIZ stock, go to TipRanks’ Overview page.