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Sasquatch Resources Corp. ( (TSE:SASQ) ) has provided an announcement.
Sasquatch Resources Corp. has executed an agreement to acquire 14 mineral claims on Mount Sicker, Vancouver Island, covering 1,636 hectares. This acquisition includes the issuance of 2,000,000 common shares and a 1.0% net smelter returns royalty to the vendors. The newly acquired claims have exposed substantial mineralization due to recent logging road construction, which the company plans to exploit. Additionally, Sasquatch provided an update on its Santana property, where a grid sampling program was completed to assess the composition of gold, copper, and silver in waste rock, with further exploration planned.
Spark’s Take on TSE:SASQ Stock
According to Spark, TipRanks’ AI Analyst, TSE:SASQ is a Neutral.
Sasquatch Resources Corp. is under pressure due to financial challenges, including no revenue and shrinking cash reserves. While technical indicators and corporate events suggest potential stability and growth, the lack of earnings and negative cash flow present significant risks. The absence of debt offers some flexibility, but the company needs to secure additional funds to improve its financial standing.
To see Spark’s full report on TSE:SASQ stock, click here.
More about Sasquatch Resources Corp.
Sasquatch Resources Corp. is a company operating in the mining industry, focusing on the acquisition and development of mineral claims. The company is involved in the exploration and exploitation of mineral resources, with a particular emphasis on properties located in British Columbia, Canada.
Average Trading Volume: 62,191
Technical Sentiment Signal: Buy
Current Market Cap: C$2.05M
Find detailed analytics on SASQ stock on TipRanks’ Stock Analysis page.