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Scottie Resources Corp ( (TSE:SCOT) ) has issued an update.
Scottie Resources Corp has successfully executed a ‘dry run’ of its Direct Ship Ore (DSO) model by selling a bulk sample from its Scottie Gold Mine Project, generating approximately C$9 million in net revenue. This operation not only demonstrated the scalability of their development plan but also provided valuable technical and logistical insights, reinforcing confidence in their DSO model. The proceeds from this sale will fund upcoming feasibility studies and permitting work, potentially impacting the company’s future operations and positioning within the mining industry.
Spark’s Take on TSE:SCOT Stock
According to Spark, TipRanks’ AI Analyst, TSE:SCOT is a Neutral.
Scottie Resources Corp’s stock score reflects the company’s challenging financial performance, with no operational revenue and ongoing losses. While the absence of debt and recent positive corporate developments provide some support, these factors are overshadowed by the bearish technical indicators and negative valuation metrics. The new project launch offers a glimmer of hope but requires successful execution to positively impact the stock.
To see Spark’s full report on TSE:SCOT stock, click here.
More about Scottie Resources Corp
Scottie Resources Corp is a company operating in the mining industry, focusing on the exploration and development of gold resources. Their primary project is the Scottie Gold Mine Project, which includes the Bend Vein, a small open pit resource known for its gold-bearing veins.
Average Trading Volume: 121,424
Technical Sentiment Signal: Buy
Current Market Cap: C$103.3M
For a thorough assessment of SCOT stock, go to TipRanks’ Stock Analysis page.