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An update from Sirios Resources ( (TSE:SOI) ) is now available.
Sirios Resources Inc. has announced a significant update to its Mineral Resource Estimate for the Cheechoo Gold Project, revealing a substantial increase in both open-pit and underground gold resources. The updated estimate indicates 1.3 million ounces of indicated resources and 1.7 million ounces of inferred resources, with notable improvements in gold grades compared to previous estimates. This positions the Cheechoo project as a promising opportunity for mining development, with the company planning to fast-track additional resource growth and advance towards the development stage.
Spark’s Take on TSE:SOI Stock
According to Spark, TipRanks’ AI Analyst, TSE:SOI is a Underperform.
Sirios Resources’ overall score is primarily impacted by its financial difficulties, including zero revenue and persistent losses. Positive developments in drilling campaigns and project expansion provide some optimism, but the lack of current income and negative cash flows remain critical concerns. Technical indicators suggest limited market momentum, and the negative valuation metrics further weigh down the stock’s attractiveness.
To see Spark’s full report on TSE:SOI stock, click here.
More about Sirios Resources
Sirios Resources Inc. operates in the mining industry, focusing on gold exploration and development. The company is primarily engaged in the exploration of its Cheechoo Gold Project located in Eeyou Istchee James Bay, Québec, near the Éléonore gold mine.
Average Trading Volume: 340,079
Technical Sentiment Signal: Buy
Current Market Cap: C$20.66M
For an in-depth examination of SOI stock, go to TipRanks’ Overview page.