Chek the Channels
Friday, April 3, 2020
Newrange Gold Corp (NRG:CA)
All the Right Moves
Newrange Gold Corp is an exploration stage company focused on acquiring and exploring exploration and evaluation assets in Colombia and the United States. The Company operates in a single reportable operating segment-the acquisition, exploration, and development of mineral properties. Some of the projects acquired by the company are Pamlico gold project in Nevada and Rocky mountain project in Colorado. The company also holds an interest in the Yarumalito property, El Dovio property and Anori property in Colombia.
Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Newrange reports third quarter 2020 financial results. Newrange Gold generated a loss of C$207,054, or (C$0.00), compared to a loss of C$653,580, or (C$0.01) per share, during the prior year period. We had projected a loss of C$618,213, or ($0.01) per share. The variance to our estimate was due, in part, to an unrealized gain on marketable securities in the amount of C$612,076. The company ended the January quarter with a cash balance of C$1,035,747, compared to our forecast of C$868,276. Marketable securities amounted to C$1,813,659.
Updating estimates. We are narrowing our FY2020 loss estimates to C$1,484,051, or (C$0.01) per share compared to prior loss estimates of C$1,927,726, or (C$0.02) per share. Our full year EPS estimate is unchanged. We do not assume future unrealized gains and/or losses on marketable securities. Based on the ending cash balance and the potential for sales of marketable securities, the potential exercise of warrants and...
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.