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The latest announcement is out from Scottie Resources Corp ( (TSE:SCOT) ).
Scottie Resources Corp has announced a strategic partnership with Ocean Partners UK Limited, involving a $6 million equity investment and a USD$25 million construction loan to advance the Scottie DSO Project towards production. This partnership includes a commercial offtake agreement for 100% of production for the first eight years, providing Scottie with financial certainty and flexibility. The collaboration is expected to enhance Scottie’s operational efficiency by eliminating the need for a grinding operation, thereby reducing costs and complexity. The project is poised to deliver a high Net Present Value to capital cost ratio, with production anticipated to commence soon after the completion of the Preliminary Economic Assessment.
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 involved in the mining industry, focusing on the development of high-margin direct shipping ore (DSO) products. The company is advancing its Scottie DSO Project, which is strategically positioned near the port of Stewart BC, facilitating cost-effective shipping to Asia.
Average Trading Volume: 36,134
Technical Sentiment Signal: Sell
Current Market Cap: C$43.97M
For an in-depth examination of SCOT stock, go to TipRanks’ Overview page.