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TomaGold ( (TSE:LOT) ) just unveiled an update.
TomaGold Corporation has received a final cash payment of $1,000,000 from IAMGOLD Corporation related to the previously announced sale of its Hazeur, Monster Lake East and Monster Lake West properties, originally optioned to Northern Superior Resources before IAMGOLD’s acquisition of that company. The non-dilutive funds will be used to advance and expand TomaGold’s exploration programs across its Chibougamau projects in 2026, while the company retains a 2.0% net smelter returns royalty on all mineral production from the sold properties, with IAMGOLD holding an option to buy back half of that royalty for $1,000,000, providing TomaGold with ongoing exposure to potential upside from future production and a strengthened financial position for stakeholders.
Spark’s Take on TSE:LOT Stock
According to Spark, TipRanks’ AI Analyst, TSE:LOT is a Underperform.
TomaGold is currently in a challenging financial position, with severe issues in revenue generation and cash flow. While recent exploration findings are promising, they remain speculative and have yet to translate into financial improvement. The technical indicators show bearish trends, and the valuation metrics highlight ongoing profitability issues. Strategic improvements in exploration might offer future potential, but substantial risks remain.
To see Spark’s full report on TSE:LOT stock, click here.
More about TomaGold
TomaGold Corporation is a Canadian junior mining company focused on the acquisition, exploration and development of high-potential precious and base metal projects, primarily gold and copper in Quebec and Ontario. Its core assets are in the Chibougamau Mining Camp in northern Quebec, including the Obalski gold-copper-silver project and options on 12 additional properties such as the Berrigan Mine, Radar, David and Dufault projects, while it also holds a 24.5% joint venture interest in the Baird gold property near the Red Lake Mining Camp in Ontario and maintains lithium and rare earth element projects in the James Bay region.
Average Trading Volume: 424,682
Technical Sentiment Signal: Buy
Current Market Cap: C$9.11M
See more data about LOT stock on TipRanks’ Stock Analysis page.