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Sirios Resources ( (TSE:SOI) ) has shared an update.
Sirios Resources has announced the filing of a technical report on its Cheechoo Gold Project, revealing an updated Mineral Resource Estimate with 1.3 million ounces of indicated resources at 1.12 g/t Au and 1.7 million ounces of inferred resources at 1.23 g/t Au. The report highlights a significant increase in gold grades and introduces a new underground component, indicating promising exploration targets and potential for further development. The company plans a two-phase follow-up work program, including a Preliminary Economic Assessment and additional drilling to expand resources and identify new targets.
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 the exploration and development of gold deposits. The company is primarily engaged in advancing its Cheechoo Gold Project located in the Eeyou Istchee James Bay region of Quebec, Canada.
Average Trading Volume: 456,679
Technical Sentiment Signal: Buy
Current Market Cap: C$27.02M
For detailed information about SOI stock, go to TipRanks’ Stock Analysis page.