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Steadright Critical Minerals, Inc. ( (TSE:SCM) ) has shared an update.
Steadright Critical Minerals Inc. has signed a definitive agreement with NSM Capital Sarl, securing a 75% ownership in the TitanBeach Titanium Project in Morocco, with the potential to increase this to 80%. This acquisition is part of Steadright’s strategy to expand its Preliminary Economic Assessment and apply for a mining permit, highlighting the project’s economic potential with significant heavy mineral sands deposits. The agreement involves a net smelter royalty and share issuance, with Steadright committing to initial production facility costs. The move strengthens Steadright’s position in the titanium market, aligning with its growth strategy and commitment to sustainable mining practices.
Spark’s Take on TSE:SCM Stock
According to Spark, TipRanks’ AI Analyst, TSE:SCM is a Underperform.
Steadright Critical Minerals, Inc. exhibits severe financial weaknesses, with no revenue, negative equity, and poor cash flow management. Technical analysis suggests overbought conditions, which could lead to a price correction. Valuation is challenging due to the absence of earnings, contributing to a low overall score.
To see Spark’s full report on TSE:SCM stock, click here.
More about Steadright Critical Minerals, Inc.
Steadright Critical Minerals Inc. is a mineral exploration company established in 2019, focusing on identifying and developing exploration projects. The company is involved in the critical minerals industry, particularly emphasizing titanium dioxide, a mineral in high demand and classified as critical and strategic in several countries.
Average Trading Volume: 126,379
Technical Sentiment Signal: Buy
For a thorough assessment of SCM stock, go to TipRanks’ Stock Analysis page.