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The latest update is out from Riverside Resources ( (TSE:RRI) ).
Riverside Resources and Questcorp Mining are set to begin the inaugural drill program at the Union Gold-Silver Project in Sonora, Mexico, marking a significant step in exploring the historically productive yet underexplored site. This initiative, supported by recent geophysical and geochemical surveys, aims to unlock potential discoveries and strengthen Riverside’s position in the mining sector, while the company also regains full control of the Cecilia Project after Fortuna Mining’s withdrawal.
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. operates in the mining industry, focusing on exploration and development of gold and silver projects. The company collaborates with partners to advance early-stage assets, primarily in Mexico and Canada.
Average Trading Volume: 67,265
Technical Sentiment Signal: Buy
Current Market Cap: C$11.22M
For a thorough assessment of RRI stock, go to TipRanks’ Stock Analysis page.