Great Bear Resources Ltd. GTBAF

PI Financial gives a $24.75 price target

[KozmoT]

and the following commentary on todays news... their 9.5 million oz forecast for the maiden resource seems a tad conservative 

"

Another High-Grade Domain Enhances Resource Confidence

EVENT: Great Bear Resources announced an update on geological modeling and detailed assay results from the high-grade Auro2 domain within the LP Fault zone at Dixie Project in the Red Lake.

IMPACT: Positive. Great Bear disclosed details of another high-grade near surface domain, which demonstrates strong continuity across a broad zone of high-grade mineralization outlined to date. We see the LP Fault hosting a series of domains that will support a high-grade starter pit with robust up-front economics.

HIGHLIGHTS:

• Long Section: The newly released long section continues to reveal high-grade near surface nature of the LP Fault. Based on the long section provided today, we estimate ~800Koz of high-grade mineralization occurs within the Auro2 domain. Great Bear has reported four high-grade domains to date and is continuing its modeling on all 23 high-grade domains along the 4km LP Fault.
• Auro2 Domain Drilling: Intercepts from 58 holes to date have returned an average grade of 29.16g/t Au over 4.78m core length.
• Resource Outlook: With over 400 LP Fault drill holes announced, we continue to see growth both along strike and at depth for Great Bear to host a 9.5Moz property wide maiden gold resource from bulk tonnage and underground mineralization."

[flashcash]

I would be very happy with 4 to 5 million oz's off the bat !