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Analyst: New Discoveries Could Point to Regional Scale of Gold Mineralization at Quebec Project

Source: Streetwise Reports

 

July 2, 2020 (Investorideas.com Newswire) Recent drill results and project model changes, leading to an increased target price on Troilus Gold, are outlined in a Canaccord Genuity report.


In an April 24 research note, analyst Tom Gallo reported that after updating its gold price forecast, Canaccord Genuity increased its target price on Troilus Gold Corp. (TLG:TSX; CHXMF:OTCQB) to CA$1.70 per share from CA$1.20. Troilus stock is now priced at CA$1.03 per share.

Canaccord increased its projected gold price to US$1,716 per ounce from US$1,631. Given this environment, Gallo also reported, new discoveries at the Troilus gold project in Quebec are "shining light on better potential project economics." Canaccord's estimated net asset value of the Troilus gold project increased to CA$594 million from CA$242 million, excluding the CA$72 million in value of the non-priority underground resource there.

Gallo reviewed Troilus Gold's recent new discovery in the Troilus project's Southwest zone, and noted that based on drill results from that, Canaccord added to its Troilus model 353,000 ounces at 1.1 grams per ton (1.1 g/t) gold in additional conceptual resources.

In Southwest, the drill bit encountered grades above 2 g/t gold at significant widths, which "support the potential regional scale of this mineralized system," highlighted Gallo. TLG-ZSW20-189, one of several highlight holes, demonstrated high-grade intercepts at Southwest. It returned 1.56 g/t gold equivalent (Au eq) over 73 meters (37m), including 2.05 g/t Au eq over 48m; 1.23 g/t Au eq over 6m from surface; 0.98 g/t Au eq over 13m including 1.9 g/t Au eq over 3m and 2.17 g/t Au eq over 2.2m.

Gallo pointed out that the strike length at Troilus, currently extending 4.5 kilometers from the J zones to the Southwest zone, is noteworthy. He wrote that it "could have positive implications for a potential future large operation, especially in a high gold price environment" despite the property's overall lower grade.

Canaccord Genuity has a Speculative Buy rating on Troilus Gold.

Disclosure:

1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Troilus Gold. Click here for important disclosures about sponsor fees.

3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

Disclosures from Canaccord Genuity, Troilus Gold Corp., Raising Target Price, April 24, 2020

Analyst Certification: Each authoring analyst of Canaccord Genuity whose name appears on the front page of this research hereby certifies that (i) the recommendations and opinions expressed in this research accurately reflect the authoring analyst's personal, independent and objective views about any and all of the designated investments or relevant issuers discussed herein that are within such authoring analyst's coverage universe and (ii) no part of the authoring analyst's compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed by the authoring analyst in the research, and (iii) to the best of the authoring analyst's knowledge, she/he is not in receipt of material non-public information about the issuer.

Analysts employed outside the US are not registered as research analysts with FINRA. These analysts may not be associated persons of Canaccord Genuity LLC and therefore may not be subject to the FINRA Rule 2241 and NYSE Rule 472 restrictions on communications with a subject company, public appearances and trading securities held by a research analyst account.

Required Company-Specific Disclosures (as of date of this publication)

Troilus Gold Corp. currently is, or in the past 12 months was, a client of Canaccord Genuity or its affiliated companies. During this period, Canaccord Genuity or its affiliated companies provided investment banking services to Troilus Gold Corp.
In the past 12 months, Canaccord Genuity or its affiliated companies have received compensation for Investment Banking services from Troilus Gold Corp.
In the past 12 months, Canaccord Genuity or any of its affiliated companies have been lead manager, co-lead manager or comanager of a public offering of securities of Troilus Gold Corp. or any publicly disclosed offer of securities of Troilus Gold Corp. or in any related derivatives.
Canaccord Genuity or one or more of its affiliated companies intend to seek or expect to receive compensation for Investment Banking services from Troilus Gold Corp. in the next three months.
An analyst has visited the material operations of Troilus Gold Corp. Partial payment was received for the related travel costs.

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