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Wishbone Gold ( (GB:WSBN) ) has provided an announcement.
Wishbone Gold has signed an option agreement, for a £100,000 cash payment, to acquire the Silver Lake Project, a 422 sq km silver prospect in Western Australia’s Carnarvon Basin featuring extensive surface mineralisation along a 35 km structural corridor. If exercised, the option would be satisfied by issuing 3,571,777 Wishbone shares, adding a shallow, potentially high-value silver asset with rock chip samples up to 847 g/t and historic drilling intercepts to complement its existing Red Setter exploration programme.
The project benefits from year-round access and proximity to the multi-user port of Onslow, while historic work indicates multiple mineralisation styles and additional bentonite and phosphate potential within the tenure. Management believes the stratigraphic and structural setting offers significant scale, and plans to use low-cost auger drilling to better define the silver mineralisation and refine exploration plans, positioning Wishbone to benefit from rising silver demand driven by electric vehicles, data centres and solar power.
The most recent analyst rating on (GB:WSBN) stock is a Hold with a £72.00 price target. To see the full list of analyst forecasts on Wishbone Gold stock, see the GB:WSBN Stock Forecast page.
Spark’s Take on WSBN Stock
According to Spark, TipRanks’ AI Analyst, WSBN is a Neutral.
Overall score is held back primarily by weak financial performance (pre-revenue, ongoing losses, and negative free cash flow despite some improvement). Technicals are mixed with a neutral momentum profile and no clear trend, while valuation is limited by a negative P/E and lack of dividend yield data.
To see Spark’s full report on WSBN stock, click here.
More about Wishbone Gold
Wishbone Gold is a London AIM- and Aquis-listed exploration company focused on precious and base metals projects in Western Australia. Its portfolio includes the Red Setter copper-gold project, and it is now seeking to expand into silver through prospective ground in the Carnarvon Basin, targeting shallow, near-surface mineralisation that can be tested with relatively low-cost drilling.
Average Trading Volume: 858,147
Technical Sentiment Signal: Sell
Current Market Cap: £10.73M
Learn more about WSBN stock on TipRanks’ Stock Analysis page.