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Targa Exploration Corp. ( (TSE:TEX) ) has provided an update.
Targa Exploration Corp. announced an expansion of its diamond drilling program at the Opinaca Gold Project in Quebec, increasing the drilling from 2,500m to 3,250m. The expansion is due to the efficient progress of the drilling, which is ahead of schedule and under budget, allowing for additional drill holes without exceeding the original budget. This expansion aims to enhance the chances of discovering gold-hosting bedrock lithologies, with several mineralized rock units already encountered. The results of this expanded drilling program could significantly impact Targa’s operations by potentially increasing its gold resources, thereby strengthening its position in the gold exploration industry.
Spark’s Take on TSE:TEX Stock
According to Spark, TipRanks’ AI Analyst, TSE:TEX is a Underperform.
Targa Exploration Corp.’s financial instability, demonstrated by a lack of revenue and negative cash flow, heavily impacts its stock score. Weak technical indicators and an unattractive valuation further depress the score, suggesting significant risk for potential investors.
To see Spark’s full report on TSE:TEX stock, click here.
More about Targa Exploration Corp.
Targa Exploration Corp. is a Canadian exploration company focused on the acquisition, exploration, and development of gold mineral properties. Headquartered in Vancouver, British Columbia, its principal asset is the Opinaca Gold Project, which has identified a significant gold-in-till anomaly over a 7km strike length.
Average Trading Volume: 31,132
Technical Sentiment Signal: Sell
Learn more about TEX stock on TipRanks’ Stock Analysis page.