tiprankstipranks
Trending News
More News >

Usha Resources Amends Property Agreement and Issues Shares to Grid Metals

Story Highlights
  • Usha Resources amends property agreement, adjusting payment terms for Triangle Lake and Gathering Lake.
  • Usha issues 750,000 shares to Grid Metals, fulfilling obligations for White Willow Lithium Project.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
Usha Resources Amends Property Agreement and Issues Shares to Grid Metals

Don’t Miss TipRanks’ Half-Year Sale

Usha Resources ( (TSE:USHA) ) just unveiled an announcement.

Usha Resources Ltd. has amended its property option agreement with 2758145 Ontario Ltd. for the Triangle Lake and Gathering Lake properties, adjusting payment terms to include a cash payment and a percentage of future sale proceeds within a year. Additionally, Usha issued 750,000 shares to Grid Metals Corp. as part of its White Willow Lithium Pegmatite Project, fulfilling the third anniversary payment obligations. These strategic moves aim to strengthen Usha’s position in the lithium exploration sector and enhance its portfolio’s value.

Spark’s Take on TSE:USHA Stock

According to Spark, TipRanks’ AI Analyst, TSE:USHA is a Neutral.

Usha Resources faces ongoing profitability and cash flow challenges despite recent revenue growth. Its financial stability is supported by a strong equity position and no debt. However, technical indicators show weak momentum, and valuation metrics are unattractive due to negative earnings. Improving operational efficiency and cash management are crucial for the company’s long-term sustainability.

To see Spark’s full report on TSE:USHA stock, click here.

More about Usha Resources

Usha Resources Ltd. is a North American mineral acquisition and exploration company based in Vancouver, BC. The company focuses on developing quality critical metal properties that are drill-ready with high-upside and expansion potential. Usha’s portfolio includes projects such as Southern Arm, a copper-gold VMS project in Quebec, Jackpot Lake, a lithium brine project in Nevada, and White Willow, a lithium pegmatite project in Ontario.

YTD Price Performance: -31.43%

Average Trading Volume: 23,771

Technical Sentiment Signal: Buy

Current Market Cap: $1.95M

See more insights into USHA stock on TipRanks’ Stock Analysis page.

Disclaimer & DisclosureReport an Issue

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App
1