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Spearmint Resources Inc ( (TSE:ADDY) ) has shared an announcement.
Adelayde Exploration Inc. has finalized an option agreement to acquire the Sisson NW Tungsten Project in New Brunswick, expanding its tungsten exploration footprint to 9,780 acres. This acquisition comes amid increasing demand for critical metals like tungsten due to global trade tensions and supply risks, positioning Adelayde strategically in the market. The company plans to initiate work plans for its tungsten and antimony projects, alongside a maiden drill program for its gold project in Nevada, indicating a busy operational period ahead.
Spark’s Take on TSE:ADDY Stock
According to Spark, TipRanks’ AI Analyst, TSE:ADDY is a Underperform.
Spearmint Resources Inc. faces significant financial performance challenges, marked by zero revenue and persistent losses. Despite a strong equity position with no debt, declining assets and negative cash flow highlight potential liquidity issues. Technical indicators show stagnant momentum with neutral RSI and overbought Stochastic. Valuation is unattractive due to a negative P/E ratio and no dividend yield. However, the recent acquisition in the tungsten sector is a strategic positive, providing some potential for future growth.
To see Spark’s full report on TSE:ADDY stock, click here.
More about Spearmint Resources Inc
Adelayde Exploration Inc. is involved in the mining industry with a focus on lithium, gold, antimony, and tungsten projects. The company operates several projects, including lithium projects in Clayton Valley, Nevada, and tungsten and antimony projects in New Brunswick.
Average Trading Volume: 87,280
Technical Sentiment Signal: Sell
Current Market Cap: C$3.89M
For detailed information about ADDY stock, go to TipRanks’ Stock Analysis page.