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Visible Gold Mines ( (TSE:VGD) ) just unveiled an announcement.
Visible Gold Mines Inc. has completed the sale of its 100% interest in six properties and a 40% interest in one property to Fokus Mining Corporation, receiving $750,000 in cash and 10,000,000 Fokus shares valued at $1.5 million. This transaction strengthens Visible Gold Mines’ financial position, allowing it to focus on its gold assets in Chapais and James Bay, while benefiting from potential growth through its stake in Fokus.
Spark’s Take on TSE:VGD Stock
According to Spark, TipRanks’ AI Analyst, TSE:VGD is a Underperform.
Visible Gold Mines’ stock is severely impacted by its poor financial performance, which is the most heavily weighted factor. Persistent operational losses and financial instability are compounded by a bearish technical outlook and poor valuation due to negative profitability metrics. The absence of earnings call insights and corporate events does not offer any offsetting positives.
To see Spark’s full report on TSE:VGD stock, click here.
More about Visible Gold Mines
Visible Gold Mines is a corporation focused on gold exploration in the prolific Abitibi Gold Belt and the James Bay region in Quebec, Canada.
Average Trading Volume: 44,758
Technical Sentiment Signal: Buy
Current Market Cap: C$3.72M
Find detailed analytics on VGD stock on TipRanks’ Stock Analysis page.