RE:Morning StarMorningStar is quite useful for some research such as analyzing an operating company like Newmont or Barrick. The limitation is MorningStar analyzes income statements and balance sheets, using formulas, comparisons & methodology that don't work for a a gold explorer not generating revenue. I read a lot and do a fair bit of research. But I would tend to discount any analysis MorningStar makes here. So would others.
I doubt Morningstar has any geologists on staff and they are not equipped to evaluate a resource or drill cores, let alone compare to peers. They never make site visits. Morningstar is U.S. based. They frequently miss SEDAR filings and major pieces of the puzzle, such as institutions owning.
NewCastle is based in Toronto and has an office in Vancouver. Their California project is no help with Morningstar. In the U.S. they are a microcap stock trading on what used to be called the Pink Sheets.
This isn't meant as a dig at Morningstar, this just doesn't fit their business model. One good thing is that they are unbiased. Analysts working for brokerage firms have agendas. U.S. brokerages have been fined hundreds of millions for using analysts to achieve retail distribution of stocks that institutional clients want to dump.