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Gold Mining Co. Makes 'Excellent' Discovery

Source: Ian Parkinson

October 21, 2022 (Investorideas.com Newswire) In addition to this news, the Canadian company is trading at a discount to peers, noted a Stifel report.


Troilus Gold Corp. (TLG:TSX; CHXMF:OTC; CM5R:FRA) discovered a new zone, hit the highest grade ever, and returned some of the best drill results at its namesake gold project in Quebec's historic Val d'Or mining district, reported Stifel analyst Ian Parkinson in an October 17, 2022 research note. Based on these results, the Toronto-based explorer will advance Troilus to a feasibility study, due out in H2/23.

Another positive for investors is the mining company is trading at a discount to its peers, at a coverage low spot price: net asset value of 0.07 times versus an average of 0.20 times.

Further, with a current share price of about CA$0.37 and a target price assigned by Stifel of CA$4, the potential return with Troilus Gold is significant.

"Troilus Gold remains the cheapest company in our coverage universe," Parkinson wrote. "We rate it as a Buy."

Parkinson presented the drill results he described as "excellent." They are of holes drilled in the Z87 zone, the location of the previously mined open pit, but to the southeast of the preliminary economic assessment (PEA) pit shell. These holes led to three major developments at the Troilus project.

1) Troilus Gold discovered a new, high-grade, at-surface structure that extends 200 meters (200m) to the southeast of the PEA pit shell and remains open. This came to light with holes 87-410 and 87-411.

2) The advanced-stage company also encountered the highest grade ever at Troilus, 154.27 grams per ton gold equivalent (154.27 g/t Au eq), which extended over 1m. This interval, 265m outside of the PEA pit shell and encountered in Hole 87-417, demonstrates high-grade material along the strike and downdip of the existing resource.

3) Troilus Gold returned some of the best intercepts to date at the project. They include:

  • 2.52 g/t Au eq over 25m, including 12.36 g/t Au eq over 3m and 3.15 g/t over 6m (hole 87-411, one of the discovery holes)
  • 4.38 g/t Au eq over 46m, including 15.5 g/t Au eq over 12m (Hole 87-417, containing the highest grade)

Troilus Gold will keep drilling, in part to define the mineralization of the zone it just discovered at Troilus and, simultaneously, pursue a definitive project feasibility study (FS).

The latter, Parkinson wrote, will include "the results of this drilling, which already points to a higher-grade profile for the project and will therefore likely affect mine sequencing decisions." The FS will also include upcoming drill results.

Disclosures:

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 Corp. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with: None. Please click here for more information.

3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.

4) This 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 Troilus Gold Corp., a company mentioned in this article.

Disclosures For Stifel GMP, Troilus Gold Corp., October 17, 2022

I, Ian Parkinson, certify that the views expressed in this research report accurately reflect my personal views about the subject securities or issuers; and I, Ian Parkinson, certify that no part of my compensation was, is, or will be directly or indirectly related to the specific recommendations or views contained in this research report.

Our European Policy for Managing Research Conflicts of Interest is available at www.stifel.com/institutional/ ImportandDisclosures.

Please visit the Research Page at www.stifel.com for the current research disclosures and respective target price methodology applicable to the companies mentioned in this publication that are within the Stifel coverage universe. For a discussion of risks and changes to target price including basis of valuation or methodology please see our stand-alone company reports and notes for all stocks.

The information contained herein has been prepared from sources believed to be reliable but is not guaranteed by us and is not a complete summary or statement of all available data, nor is it considered an offer to buy or sell any securities referred to herein. Opinions expressed are as of the date of this publication and are subject to change without notice. These opinions do not constitute a personal recommendation and do not take into account the particular investment objectives, financial situation or needs of individual investors. Employees of Stifel, or its affiliates may, at times, release written or oral commentary, technical analysis or trading strategies that differ from the opinions expressed within.

Stifel or any of its affiliates may have positions in the securities mentioned and may make purchases or sales of such securities from time to time in the open market or otherwise and may sell to or buy from customers such securities on a principal basis; such transactions may be contrary to recommendations in this report. Past performance should not and cannot be viewed as an indicator of future performance. Unless otherwise noted, the financial instruments mentioned in this report are priced as of market close on the previous trading day and presumed performance is calculated always over the next 12 months.

As a multi-disciplined financial services firm, Stifel regularly seeks investment banking assignments and compensation from issuers for services including, but not limited to, acting as an underwriter in an offering or financial advisor in a merger or acquisition, or serving as a placement agent in private transactions.

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