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Thunder Gold ( (TSE:TGOL) ) has provided an announcement.
Thunder Gold Corp. has signed a definitive agreement with ALX Resources Corp. to option the 4,571-hectare Electra Property, which lies immediately west and contiguous to its Tower Mountain gold project in Ontario. The company can earn a 100% interest in 212 mineral claims through staged cash payments totaling C$175,000 and the issuance of 1,000,000 common shares over 24 months, subject to TSX Venture Exchange approval.
Management views the northern half of Electra as a key opportunity to expand Tower Mountain’s mineral resource along a four-kilometre Timiskaming conglomerate trend that has returned historical anomalous and high-grade gold values from trenching, surface sampling, and drilling. The acquisition complements Thunder Gold’s fully funded drill program at Tower Mountain and will shift summer prospecting to test satellite, near-surface gold targets between Bateman Lake and the STAR Target, potentially enhancing the project’s overall scale and regional importance in the Shebandowan Greenstone Belt.
The most recent analyst rating on (TSE:TGOL) stock is a Buy with a C$0.60 price target. To see the full list of analyst forecasts on Thunder Gold stock, see the TSE:TGOL Stock Forecast page.
Spark’s Take on TGOL Stock
According to Spark, TipRanks’ AI Analyst, TGOL is a Neutral.
The score is primarily held down by weak financial performance (no revenue, ongoing losses, and persistent negative free cash flow/cash burn). Technicals are mixed but somewhat supportive longer-term (above key longer-duration moving averages with neutral RSI). Valuation is constrained by a negative P/E due to losses and no stated dividend yield.
To see Spark’s full report on TGOL stock, click here.
More about Thunder Gold
Thunder Gold Corp. is a Canadian mineral exploration company focused on gold projects in northwestern Ontario. Its flagship asset is the Tower Mountain Property in the Shebandowan Greenstone Belt near Thunder Bay, where it is advancing resource expansion drilling and regional exploration to delineate near-surface gold mineralization.
Average Trading Volume: 629,668
Technical Sentiment Signal: Strong Buy
Current Market Cap: C$37.98M
For an in-depth examination of TGOL stock, go to TipRanks’ Overview page.