Riverside Resources Advances Union Project with Questcorp Partnership

An announcement from Riverside Resources ( (TSE:RRI) ) is now available.

Riverside Resources has updated its option agreement with Questcorp Mining Inc. for the Union Project in Sonora, Mexico, receiving 6,285,722 common shares and a cash payment of $25,000 CAD from Questcorp. As the operator, Riverside is advancing pre-drilling work, including organizing field teams and conducting geophysical surveys, to refine drill targets in the promising Sonora carbonate-replacement belt, which is prospective for multiple mineral discoveries.

Spark’s Take on TSE:RRI Stock

According to Spark, TipRanks’ AI Analyst, TSE:RRI is a Neutral.

Riverside Resources faces significant financial challenges with no revenue and negative cash flows, impacting its overall score. Despite these issues, positive technical momentum and strategic corporate actions, such as the Blue Jay Gold spin-out, offer some optimism. Valuation concerns persist with a negative P/E ratio, indicating potential risks.

To see Spark’s full report on TSE:RRI stock, click here.

More about Riverside Resources

Riverside Resources Inc. is a well-funded exploration company focused on value generation and discovery, with a strong portfolio of gold-silver and copper assets and royalties in North America. The company operates primarily in Mexico and Canada, leveraging its extensive experience and knowledge to generate a portfolio of prospective mineral properties.

Average Trading Volume: 72,232

Technical Sentiment Signal: Buy

Current Market Cap: C$16.45M

For an in-depth examination of RRI stock, go to TipRanks’ Stock Analysis page.