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Riverside Resources ( (TSE:RRI) ) has shared an update.
Riverside Resources announced the spin-out of its Ontario Gold Projects into a new company, Blue Jay Gold Corp, aiming to increase shareholder value by allowing distinct capital market valuation for the projects. This strategic move provides Riverside shareholders with a stake in Blue Jay Gold, while Riverside retains a 2% NSR royalty on the properties, offering flexibility in investment strategies and potentially accelerating project development.
More about Riverside Resources
Riverside Resources Inc. operates in the mining industry, focusing on the exploration and development of mineral properties. The company has a diverse portfolio of projects located in Canada and Mexico, along with royalty interests. Riverside is known for generating new prospective mineral properties and has successfully done so for nearly two decades.
YTD Price Performance: 4.00%
Average Trading Volume: 38,102
Technical Sentiment Consensus Rating: Buy
Current Market Cap: C$9.72M
For an in-depth examination of RRI stock, go to TipRanks’ Stock Analysis page.