Classic MM move…I'm up on all my other juniors. Everytime one of them post a great NR, the MM drops the price...Rovers down with this move....play the game with them. Get on the right side of the trade: .35ish is a decent entry point- then let then deck around with the SP...forget about...but just keep getting them dirt cheap shares. Be prepared to hold for a good amount of time like real investors....here's the rest of the analyst report.
Highlights
In H2-2021, Rover completed a Phase 2 exploration program at its 100% owned Cabin gold project in the Northwest Territories. The program included a 31-hole diamond drill program, and 21,000 m of geophysical surveys.
The program confirmed two gold zones (Beaver and Andrew), and identified three new large IP anomalies (Camp, Andrew South, and Beaver South). Drilling not only returned multiple high-grade intercepts, but also expanded historic grades.
Drill results from three targets at the Andrew zone delineated a medium-to-high grade zone, extending 800 m from north to south at surface.
Overall, we believe the recent program has shown that the project has potential to hold a medium-sized resource with high grades. Three significant gold zones have been identified to-date: Beaver, Andrew, and Arrow.
Planning to complete a NI 43-101 compliant maiden resource estimate in 2022.
The three confirmed gold zones, when combined, extend 1,000 m at surface, and are open along strike and at depth. Rover intends to drill the Arrow zone at depths below 75 m in a Phase 3 program, which is expected to commence this quarter,
upon completing a $1M+ financing.
The Cabin gold project is 40 km from Canada’s largest primary cobalt (cobalt-gold)
deposit, held by Fortune Minerals (TSX: FT). FT recently announced plans to acquire a refinery in Alberta for its concentrates. We believe FT’s advancements are positive for ROVR, as they increase the probability for an M&A event in the future, if ROVR is able to delineate a large resource.
We have a positive outlook on gold prices as inflation is likely to be persistent, and real rates are likely to be negative in the first half of the year. Rising geopolitical tensions in Eastern Europe and the Middle East will likely support gold prices. SPDR Gold (NYSE: GLD), the largest ETF backed by gold, is seeing record inflows of capital.
Upcoming catalysts include stronger gold price, Phase 3 results, and a maiden resource estimate.