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Targa Exploration Corp. ( (TSE:TEX) ) has issued an update.
Targa Exploration Corp. has identified a significant 4km-long magnetic anomaly at its Opinaca Gold Project in Quebec, Canada, following an airborne magnetic survey. The anomaly, located below a previously identified 7km gold-in-till trend, suggests potential orogenic gold traps, prompting Targa to submit drill permit applications for a maiden drill program. This development could enhance Targa’s operational focus and strengthen its position in the gold exploration industry, with drilling expected to commence by mid-September.
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 exploration company focused on the acquisition, exploration, and development of gold mineral properties.
Average Trading Volume: 49,359
Technical Sentiment Signal: Sell
See more insights into TEX stock on TipRanks’ Stock Analysis page.