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Callinex Mines ( (TSE:VCG) ) has issued an announcement.
Visionary Copper and Gold Mines has begun a fully funded 3,000-metre Phase 1 drill program at its Point Leamington project in central Newfoundland, marking the first exploration drilling on the property in more than 20 years. The campaign is aimed at expanding and upgrading the existing gold, copper, zinc and silver resource by testing near-surface targets along strike to the south—where historic drilling and EM data suggest the potential to double the deposit’s strike length—as well as evaluating a deeper Lower Footwall Zone that has returned significant copper intervals but is largely excluded from the current pit-constrained resource, potentially supporting future resource growth and pit expansion.
The most recent analyst rating on (TSE:VCG) stock is a Hold with a C$0.69 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 TSE:VCG Stock
According to Spark, TipRanks’ AI Analyst, TSE:VCG is a Neutral.
The score is held down primarily by weak operating fundamentals (no revenue, ongoing losses) and continued negative cash flow, even with improving burn. A strong, low-debt balance sheet provides some support, while technical indicators are mostly neutral and valuation is constrained by a negative P/E and no dividend yield.
To see Spark’s full report on TSE:VCG stock, click here.
More about Callinex Mines
Visionary Copper and Gold Mines Inc. is a mineral exploration company focused on advancing its 100%-owned Point Leamington polymetallic deposit in central Newfoundland. The project targets gold, copper, zinc and silver resources in a volcanogenic massive sulphide system accessible by road and close to local communities and provincial power infrastructure, positioning the company within a well-established Canadian mining jurisdiction.
Average Trading Volume: 21,170
Technical Sentiment Signal: Sell
Current Market Cap: C$15.72M
See more insights into VCG stock on TipRanks’ Stock Analysis page.