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Idaho Gold Property 'Well Positioned for Resource Growth over the Near-Term'

Source: Streetwise Reports


April 16, 2021 ( Newswire) Liberty Gold Corp. released an updated resource report for its gold-copper project in Turkey, increasing the resource three-fold, which according to Haywood Capital Markets may help to strengthen funding sources for development work at its flagship Black Pine Gold Project in Idaho.

Haywood Capital Markets analyst Geordie Mark reported in an April 6 research note that the firm is reiterating its "Buy" rating on Liberty Gold Corp. (LGD:TSX) ahead of the company's maiden resource report for its Black Pine Gold Project in southern Idaho, which expected to be completed within a few weeks.

The analyst explained that Liberty Gold provided a resource update regarding its TV Tower project located in western Turkey. The report advised that Liberty owns approximately 63% of TV Tower, along with Tech Resources Ltd. (TECH.A/TECH.B:TSX) which owns the remaining 37%. The analyst pointed out that an updated NI-43-101 technical report for TV Tower's existing KCD deposit increased the resource three-fold, adding about 1.7 million ounces (Moz) gold and 670 million pounds (Mlb) copper to the total estimated resource.

The analyst stated that this secondary asset base has become a meaningful host of resource value due to the property's favorable metallurgical profile, making it a candidate for heap-leach recovery. Haywood indicated that it very conservatively values the North and South TV Tower projects at US$13 million. "With no further drilling planned on these assets over the near-term, we anticipate management will likely look to monetize value to support undiluted cash balances as it continues to undertake drilling at the primary Black Pine project," Mark wrote.

The analyst noted that the Black Pine Gold Project remains the key focus for Liberty Gold. Starting this month, Liberty plans to commence 56,000 meters of additional drilling at the high-grade Black Pine core area on target sites mostly not included in either the maiden resource or the PEA scheduled for completion in Q3/21.

Haywood Capital commented that for valuation purposes it estimates the total Black Pine resource at 2 Moz gold.

Haywood Capital Markets currently has a "Buy" rating for Liberty Gold with a target price of CA$3.15/share. The company's shares are trading at around CA$1.52.


1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his 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: Liberty 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 decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Liberty Gold, a company mentioned in this article.

Disclosures from Haywood Securities, Liberty Gold Corp., Research Report, April 6, 2021

Analyst Certification: I, Geordie Mark, hereby certify that the views expressed in this report (which includes the rating assigned to the issuer’s shares as well as the analytical substance and tone of the report) accurately reflect my/our personal views about the subject securities and the issuer. No part of my/our compensation was, is, or will be directly or indirectly related to the specific recommendations.

Important Disclosures

Haywood Securities, Inc. has reviewed lead projects of Liberty Gold Corp. and a portion of the expenses for this travel have been reimbursed by the issuer.

Other material conflict of interest of the research analyst of which the research analyst or Haywood Securities Inc. knows or has reason to know at the time of publication or at the time of public appearance: n/a.

Research policy is available here.

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