Landore Resources (LSE:LND) has finalised the sale of its interest in the Miminiska Project in northwestern Ontario after receiving a final cash instalment of C$1.3125 million from Storm Exploration under an option arrangement.
The payment was enabled by Storm’s subsequent sale of the asset to European Electric Metals. As part of the overall transaction, Landore retains ownership of 1,978,385 shares in Storm Exploration, preserving exposure to potential upside.
Management said the exit from Miminiska underlines the embedded value within Landore’s wider Ontario portfolio while materially improving the company’s liquidity position. The strengthened cash balance is expected to support ongoing advancement of the BAM Gold Project, including further work following the recently updated mineral resource estimate. The group also intends to continue evaluating opportunities to unlock value across its broader asset base into 2026 and beyond.
However, the investment case remains constrained by weak financial fundamentals. The company continues to report no revenue, recurring losses, and sustained cash outflows. From a technical standpoint, the shares are trading below key moving averages, with momentum indicators such as MACD signalling bearish conditions. Although Landore carries no debt and has seen some equity improvement, traditional valuation measures remain unreliable given negative earnings, and there is currently no dividend yield.
More about Landore Resources
Landore Resources Limited is an AIM-listed exploration and development company focused on precious and battery metals assets in eastern Canada and the United States. Its principal asset is the wholly owned BAM Gold Project in northwestern Ontario, which hosts an independently defined mineral resource and forms the cornerstone of the company’s strategy to realise value from both core and non-core properties.
Leave a Reply