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Targa Exploration Corp. ( (TSE:TEX) ) has issued an update.
Targa Exploration Corp. has significantly expanded its El Zanjon gold-silver project in Santa Cruz, Argentina, increasing the property by 66% from 34,521 hectares to 57,276 contiguous hectares through the granting of three new exploration concessions. The new concessions, located to the north, east and southwest of the original claim block, are designed to capture possible extensions of known geochemical anomalies and prospective structural trends, strengthening the project’s exploration upside and protecting its boundaries in the event of a discovery. As part of its option agreements on the El Zanjon and Venidero projects, Targa has also issued a first tranche of 1,250,000 common shares to Aegis Resources Ltd. at a deemed price of $0.20 per share, advancing its earn-in commitments while it prepares work programs and budgets pending environmental approvals expected in the coming months.
Spark’s Take on TSE:TEX Stock
According to Spark, TipRanks’ AI Analyst, TSE:TEX is a Underperform.
Targa Exploration Corp.’s financial instability, demonstrated by a lack of revenue and negative cash flow, heavily impacts its stock score. Weak technical indicators and an unattractive valuation further depress the score, suggesting significant risk for potential investors.
To see Spark’s full report on TSE:TEX stock, click here.
More about Targa Exploration Corp.
Targa Exploration Corp. is a Canadian mineral exploration company focused on the acquisition, exploration, and development of early-stage gold and gold-silver projects in premier mining jurisdictions. Headquartered in Vancouver, the company’s principal asset is the Opinaca gold project in Quebec, where a significant gold-in-till anomaly has been identified, and it has also recently secured options on the Venidero and El Zanjon gold-silver projects in Santa Cruz, Argentina, targeting grassroots precious metals discoveries with Tier 1 potential.
Average Trading Volume: 72,495
Technical Sentiment Signal: Sell
Current Market Cap: C$9M
See more data about TEX stock on TipRanks’ Stock Analysis page.