Buy Rating Maintained at Stifel GMP; Price Target at C$6.602022-08-24 11:31:12 AM ET (MT Newswires)
11:31 AM EDT, 08/24/2022 (MT Newswires) -- Stifel GMP on Wednesday reiterated its buy rating on the shares of Karora Resources (KRR.TO) with a C$6.60 price target after the company reported positive drilling results from its Beta Hunt gold mine in Australia.
"Karora reported results from two drilled holes targeting new zones outside its existing Larkin resource at its flagship Beta Hunt Mine in Western Australia," analyst Ian Parkinson noted. "The assays were positive with reported grades above resource grades at the nearby Larkin Zone. Highlights include 6.0g/t Au over 13.0m from the Mason Zone and 2.4g/t Au over 5.0m from the Cowcill Zone. The results are encouraging for the potential to expand the resource in new emerging zones at Beta Hunt. The company also provided on update on the construction of the second decline at Beta Hunt, happily reporting they remain on budget and ahead of schedule. We currently rate KRR as a Buy with a price target of $6.60/s."