Gold Springs Resource Corp. T.GRC

Alternate Symbol(s): GRCAF

Metals & Mining Gold Industrial Metals & Minerals

Gold Springs Resource Corp. formerly known as, TriMetals Mining Inc. is a growth-focused gold exploration company creating value through the exploration and development of the Gold Springs project in Nevada and Utah, U.S.A. Management has extensive experience in global exploration and the mining industry.

TSX:GRC - Post by User

Gold Springs Resource Corp.

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Post by devemon Apr 07, 2011 3:35pm

731 Views

Post# 18400778

Wellington: US Listing Coming

Wellington note today

South American Silver is in the process of acquiring a US listing, which should help with liquidity and market penetration as US clients love silver
The company has already met all of the requirements necessary for said listing and is waiting for approval
Given that the sponsor has been selected, a $2.00 average share price has been achieved and all the necessary paper work has been filled, the company should get approval in the next six weeks.
While this does not have any impact on the fundamental value of SAC, we believe it should positively impact the share price correlation to the commodity as a function of improved liquidity
As illustrated below, our spot 12% NAVPS is $6.27 based on US$39.50/oz silver 1.0426 US$/C$ FX, US
.50/g of both In & Ga, US$2.35/lb copper, US
.90/lb Zn and US
.70 Pb.
We reiterate our Buy recommendation and $3.40 target.