RE:RE:Td upgrade -raising our target price to C$1.75If you read the latest ETG Corporate Presentation, dated April, 2022 (very impressive) and see the exploration planned this year (see below), I doubt we are going to see the stock remain at this level very much longer. Especially if Rio sweetens the TRQ bid or another major company starts a bidding war. Looks like SSL could profit bigtime with their 25% accumulation of ETG stock.
"For 2022, OTLLC has budgeted a significant amount of diamond drilling on the Entre/Oyu Tolgoi JV Property, targeting the Hugo North Extension deposit. Drilling will comprise 37 holes, totalling approximately 16,000 metres. All holes will be collared from underground drill stations along the eastern boundary of the porphyry mineralized footprint. A portion of these holes will be drilled from three underground stations on the Entre/Oyu Tolgoi JV Property, with the others collared from underground drill stations on the Oyu Tolgoi property but crossing onto the Entre/Oyu Tolgoi JV Property. The main purpose of the drilling is infill for improved resource classification and estimation updates, but also to improve the overall knowledge of deeper parts of the deposit (Lift 2). A portion of the holes will also be used for geotechnical purposes. OTLLC has scheduled all the drilling to be completed during 2022, with potential additional phases to follow in 2023 or beyond. The timing of this drilling is still contingent upon COVID-19 restrictions."