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ATEX Resources Inc ( (TSE:ATX) ) just unveiled an announcement.
ATEX Resources Inc. has filed an independent technical report for its Valeriano copper-gold project in Chile, revealing a significant update to its mineral resource estimate. The report highlights a higher confidence in the project’s mineral resources, with substantial indicated and inferred resources of copper, gold, and silver. The ongoing Phase VI drilling program aims to expand the high-grade mineralization, particularly in the B2B Zone, which has shown promising results. This development positions ATEX to potentially increase its resource base and enhance its standing in the mining industry.
The most recent analyst rating on (TSE:ATX) stock is a Buy with a C$4.50 price target. To see the full list of analyst forecasts on ATEX Resources Inc stock, see the TSE:ATX Stock Forecast page.
Spark’s Take on TSE:ATX Stock
According to Spark, TipRanks’ AI Analyst, TSE:ATX is a Neutral.
ATEX Resources Inc. faces substantial financial challenges, with persistent losses and cash flow issues being the most significant factors impacting the stock’s score. While technical indicators suggest potential recovery, the negative valuation metrics limit attractiveness. However, promising exploration progress and strategic management changes offer a silver lining, potentially bolstering future prospects.
To see Spark’s full report on TSE:ATX stock, click here.
More about ATEX Resources Inc
ATEX Resources Inc. is a mining company focused on the exploration and development of copper and gold projects, primarily in the Atacama Region of Chile. The company is listed on the TSX Venture Exchange and OTCQB, and it aims to advance its mineral resources to capitalize on the global demand for copper and gold.
Average Trading Volume: 395,328
Technical Sentiment Signal: Buy
Current Market Cap: C$784.3M
See more insights into ATX stock on TipRanks’ Stock Analysis page.