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Sasquatch Resources Corp. ( (TSE:SASQ) ) has issued an announcement.
Sasquatch Resources Corp. has completed the acquisition of 14 mineral claims on Mount Sicker, which includes a newly discovered area of mineralization known as Copper Road. This acquisition is significant as it potentially enhances the company’s reclamation strategy by adding high-grade waste and the prospect of a new hard rock deposit. The company plans to assess the mineralized rock volume and grades in the coming weeks, which could support its existing ore-sorting plans with minimal additional capital cost. The transaction involved issuing 2,000,000 common shares and granting a 1.0% net smelter returns royalty to the vendors.
Spark’s Take on TSE:SASQ Stock
According to Spark, TipRanks’ AI Analyst, TSE:SASQ is a Neutral.
Sasquatch Resources Corp. is under pressure due to financial challenges, including no revenue and shrinking cash reserves. While technical indicators and corporate events suggest potential stability and growth, the lack of earnings and negative cash flow present significant risks. The absence of debt offers some flexibility, but the company needs to secure additional funds to improve its financial standing.
To see Spark’s full report on TSE:SASQ stock, click here.
More about Sasquatch Resources Corp.
Sasquatch Resources Corp. operates in the mining industry, focusing on mineral exploration and reclamation. The company is engaged in recovering minerals such as gold, silver, copper, and zinc using non-intrusive ore sorting strategies, with a market focus on expanding its mineral claims on Mount Sicker, Vancouver Island, British Columbia.
Average Trading Volume: 70,918
Technical Sentiment Signal: Buy
Current Market Cap: C$2.22M
For an in-depth examination of SASQ stock, go to TipRanks’ Overview page.