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VANCOUVER - Tinka Resources Limited (TSXV:TK)(BVL:TK)(OTCQB:TKRFF), a mining exploration and development company with a market capitalization of $17 million, announced today the resignation of Mr. Pieter Britz from its board of directors. Mr. Britz has also withdrawn his candidacy for re-election at the upcoming annual general and special meeting of shareholders scheduled for March 26, 2025.
Mr. Britz, who was nominated by Sentient Resources, has served on the Tinka board since January 2018. The company credits him with being a valuable asset during his tenure. In a statement issued by Tinka, Dr. Graham Carman, President and CEO, expressed gratitude for Mr. Britz’s contributions and wished him well in his future endeavors. The reason given for Mr. Britz’s departure is to allow him to concentrate on his ongoing work commitments with Sentient Resources funds and associated investments.
Tinka Resources is focused on its flagship Ayawilca zinc-silver-tin project in central Peru. The project boasts significant mineral resource estimates, including an indicated resource in the Zinc Zone and inferred resources in both the Silver and Tin Zones. The company has previously filed a technical report on an updated Preliminary Economic Assessment (PEA) for the Ayawilca Project on April 15, 2024. According to InvestingPro analysis, the company maintains a strong liquidity position with a current ratio of 9.29 and more cash than debt on its balance sheet. Discover 10+ additional exclusive insights about Tinka Resources with an InvestingPro subscription.
The company’s press release also contained forward-looking statements regarding the completion of strategic reviews and planned work programs. These statements reflect the current views of Tinka’s management regarding future events and are subject to risks, uncertainties, and assumptions. Trading at just 0.32 times book value and currently showing signs of undervaluation according to InvestingPro Fair Value metrics, the stock has experienced a significant decline of over 50% in the past six months, though analysts project profitability for the company this year.
Investors are reminded that forward-looking statements are not guarantees of future performance, and actual results may differ materially due to various factors, including changes in market conditions, geological variations, and the political environment. Tinka has made it clear that it does not intend to update any forward-looking statement unless required by securities laws.
This news is based on a press release statement from Tinka Resources Limited.
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