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Callinex Mines ( (TSE:VCG) ) just unveiled an update.
Visionary Copper and Gold Mines has completed an expanded Phase 1 drilling campaign at its Pt. Leamington deposit in central Newfoundland, executing ten drill holes totaling 3,556 meters versus the originally planned seven holes and 3,000 meters. The program marks the first systematic exploration at the site in over two decades and targets resource expansion along strike and within the known deposit footprint.
The campaign was significantly enlarged after the Kraken copper zone was discovered in hole PL-112, which intersected substantial near-surface copper mineralization outside the existing resource and pit shell. Seven of the eight pending drill holes were devoted to defining the geometry, grade and continuity of Kraken, and results expected by the end of April could support resource growth and bolster the project’s potential for a larger open-pit copper-rich operation.
The most recent analyst rating on (TSE:VCG) stock is a Hold with a C$0.78 price target. To see the full list of analyst forecasts on Callinex Mines stock, see the TSE:VCG Stock Forecast page.
Spark’s Take on VCG Stock
According to Spark, TipRanks’ AI Analyst, VCG is a Neutral.
The score is held down primarily by weak financial performance (no revenue, ongoing losses, and persistent cash burn). Technicals provide a partial offset with improving momentum above key moving averages, but valuation support is limited given the negative P/E and no dividend yield data.
To see Spark’s full report on VCG stock, click here.
More about Callinex Mines
Visionary Copper and Gold Mines Inc. is a mineral exploration company focused on advancing base and precious metal deposits in established Canadian mining jurisdictions. Its flagship asset is the 100% owned Pt. Leamington volcanogenic massive sulphide deposit in central Newfoundland, a region recognized as one of Canada’s richest VMS and gold districts.
Average Trading Volume: 35,123
Technical Sentiment Signal: Hold
Current Market Cap: C$16.62M
For detailed information about VCG stock, go to TipRanks’ Stock Analysis page.