Waraba Gold Advances in Ivory Coast Gold Exploration with Initial Payment

Waraba Gold Limited ( (TSE:WBGD) ) has provided an announcement.

Waraba Gold Limited has completed an initial payment of $300,000 under an earn-in agreement to acquire up to 80% of Somaco Global Resources SARL, which holds two prospective gold licenses in northern Ivory Coast. This milestone marks a significant step in Waraba’s expansion into West Africa’s promising gold exploration corridors, with plans to issue shares, make further payments, and appoint new directors to bolster its technical expertise.

Spark’s Take on TSE:WBGD Stock

According to Spark, TipRanks’ AI Analyst, TSE:WBGD is a Underperform.

Waraba Gold Limited faces significant financial challenges with no revenue and persistent losses, severely impacting its stock score. While technical indicators provide a slightly neutral outlook, and corporate events show potential for future growth, the overall financial distress overshadows these aspects, leading to a low score.

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

More about Waraba Gold Limited

Waraba Gold Limited is a resource exploration company focused on acquiring and exploring mineral properties. It operates as a reporting issuer in British Columbia and Alberta, with its shares traded on the Canadian Securities Exchange and the Frankfurt Stock Exchange.

Average Trading Volume: 94,125

Technical Sentiment Signal: Sell

Current Market Cap: C$1.62M

See more data about WBGD stock on TipRanks’ Stock Analysis page.