GREY:ALGDF - Post by User
Post by
CADBaconon Jan 08, 2019 6:22am
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Post# 29198824
Beacon Securities target price $7.50
Beacon Securities target price $7.50Yes you read that right.
$7.50.
Last April 2018, Beacon Securities issued a BUY with a 1 year target price of $7.50. Obviously Beacon did not know that price of gold would tank in summer/autumn of 2018 (gold price was $1340/oz at the time of the report). And it is safe to say the junior gold stocks went sour. But as gold and gold stocks are slowly creeping back up, there is no reason why this shouldn't be trading way, WAY higher. Nothing has changed in the fundamentals of the project. It's all about timing and at a current market cap of around $8 million this company is completely under the radar. GLTA
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We view Algold Resources as an attractive speculative play for exploration success in Mauritania.
The company controls a large land position to the north and south of Kinross Gold’s Tasiast gold mine (15MMoz of total gold resources, now growing production to +800,000oz/yr).
Several principals of the company were involved with building the Tasiast mine, thus have experience doing business in the country. Algold also holds gold properties in Burkina Faso, where management has ample experience (with SEMAFO).
https://algold.com/wp-content/uploads/2018/04/ALG-2018-04-12.pdf