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We believe De Grey is worth A$0.30/share based on our initial NAVPS estimate of A$0.44/share and a multiple of 0.70x. In our view, De Grey is one of the few development companies with a path to produce plus 100koz/year, have exceptional exploration upside in +200km of shear zones and trading at a steep discount to its peer group. We believe that the Pilbara Gold Project is of a scale and has the exploration upside that we believe makes De Grey an attractive target for mid-tier producers.
Coro has announced the second batch of drilling results from Atahualpa with a banner intercept returning 150m at 1.18% CuT (from surface) in oxides. Today’s news further supports our thesis that a viable copper heap leach story is going to expand materially with more drilling. As the company advances its Phase II drilling program it looks increasingly plausible that La Atómica and Atahualpa could double resources at the Marimaca Project.
Drill results from the first of eight holes at Magna Terra’s Luna Roja project are encouraging. We look forward to results for 7 holes which are pending given the company is testing what could be a large epithermal precious metal system. We view Magna Terra as an early stage explorer in Argentina’s prolific Santa Cruz Province, with a strong potential to re-rate with positive drilling news.
Results released from the first portion of drill results from Mawson’s Rajapalot project suggest that the large conductive plates identified beneath the current resource outlined at Raja, Palokas and South Palokas could extend significantly at depth. Our fair value estimate of Mawson values the company’s shares at C$0.79/sh and we expect that the eventual tabling of a sizeable gold-cobalt discovery Rajapalot to re-rate the stock.
Red Pine has announced some of the best drill intercepts we have seen from its Wawa Gold Project, which point to the emergence of a potential third ore shoot on the fringes of the current resource envelope.
We continue to believe the Wawa Gold Corridor hosts a large gold system and that Red Pine is positioned to deliver multiple gold discoveries.
Red Cloud Klondike Strike Inc. is registered as an Exempt Market Dealer (EMD) in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, New Brunswick, Nova Scotia, Prince Edward Island, Newfoundland & Labrador, and Yukon.
Red Cloud Klondike Strike Inc. connects mining companies with suitable investors that qualify under available regulatory exemptions. For example, in Canada, according to National Instrument 45-106, Prospectus and Registration Exemptions. Similar laws and regulations apply in other jurisdictions. Companies presented on this website are considered to be highly speculative and, as such, are suitable only for purchasers who can tolerate the highest level of risk including the loss of their entire investment.
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