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An update from Riverside Resources ( (TSE:RRI) ) is now available.
Riverside Resources has announced significant progress in its drilling program at the Union Project in Sonora, Mexico, with three out of five targets having undergone initial drilling. The company is on track and within budget, with promising geological findings that refine their exploration model. The drilling has revealed potential for gold mineralization, especially in areas previously untested for sulfide zones. The company is optimistic about the high-potential Famosa target and plans to integrate assay results with ongoing surface programs and geological interpretations to enhance future exploration efforts.
Spark’s Take on TSE:RRI Stock
According to Spark, TipRanks’ AI Analyst, TSE:RRI is a Neutral.
Riverside Resources faces significant financial challenges with no revenue and negative cash flows, impacting its overall score. Despite these issues, positive technical momentum and strategic corporate actions, such as the Blue Jay Gold spin-out, offer some optimism. Valuation concerns persist with a negative P/E ratio, indicating potential risks.
To see Spark’s full report on TSE:RRI stock, click here.
More about Riverside Resources
Riverside Resources Inc. is a mineral exploration company operating in the mining industry, focusing on the exploration and development of precious metals projects, primarily gold and silver, in North America, particularly in Mexico.
Average Trading Volume: 76,275
Technical Sentiment Signal: Buy
Current Market Cap: C$13.83M
See more insights into RRI stock on TipRanks’ Stock Analysis page.