Bmo Nesbit Burns * BMO Nesbitt Burns analyst Andrew Mikitchook initiated coverage of Wallbridge Mining Company Ltd. (
) with an “outperform” rating and $1 target, falling short of the $1.38 average.
“Wallbridge’s Fenelon property discovery, in Northern Quebec Canada, contains a series of deeper underground high-grade structures adjacent to a bulk mining open pit target closer to surface,” he said.
“While it is still in early stages of exploration, in our opinion there appear to be mineable high-grade structures here.”