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2017-09-12 08:28 ET - In the News
The Globe and Mail reports in its Tuesday, Sept. 12, edition that Industrial Alliance Securities analyst George Topping says Barkerville Gold Mines (88 cents) has been "reinvigorated" after investors shunned its previous management. The Globe's David Leeder writes in the Eye On Equities column that Mr. Topping began coverage with a "speculative buy" rating. Mr. Topping targets the shares at $1.50. Analysts on average target the shares at $1.60. Mr. Topping says in a note: "Barkerville's value will be derived from its exploration success or failure. Given the positive results to date, we believe success is the much more probable outcome. We note valuations on resource companies tend to vary between 5-10 per cent of the in-situ value of the resource. If we choose a value in between those end points, the current enterprise value of $244-million would require a 2.5Moz resource valued at $100/oz to support it. We believe an updated resource estimate including Cow Mountain and Island Mountain should handily exceed this number. A management team accustomed to rapid exploration and development, combined with technical know-how and excellent drilling results to date, should drive fund flow into BGM." https://www.stockwatch.com/News/Item.aspx?bid=Z-C:BGM-2504918&symbol=BGM®ion=C
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