Globe articleThe Globe and Mail reports in its Friday, Aug. 21, edition that Paradigm Capital analyst Don MacLean is again calling Galway Metals one of his favourite explorers.
The Globe's David Leeder writes in the Eye On Equities column that Mr. MacLean says Galway has delivered beyond his expectations. The Paradigm stockpicker continues to rate Galway "speculative buy." He boosted his share target by $1.50 to $2.50.
Analysts on average target the shares at $2.38. Mr. MacLean says in a note: "We are not fans of the requirement to set target prices, especially for exploration companies outlining promising new projects like Galway's Clarence Stream and particularly when there is a buoyant market (targets are even harder to divine in a declining market). ...
Clarence Stream continues to deliver strong results in what we have called Stage 1, the expansion and confirmation of the three new zones Jubilee, Richard and GMZ. Now there are indications that mineralization will be found outside that trend, in what we are calling Stage 2. We can only watch and see how matters progress, knowing the project is in good, knowledgeable hands, well funded and in a market that is supportive (finally) of exploration companies.