RE:Some good analyst coverage"Goldstorm System Extended Once Again
Maintain SPEC. BUY and $3.50/share TP
This morning, Tudor Gold released more positive results from the 2022 drill program at its
flagship Treaty Creek gold-copper-silver project in northwestern B.C. Of particular note
was a second step-out hole that points to the Goldstorm system's extension for 500m to
the northeast, where it remains open for potential expansion with further drilling. We
reiterate our SPECULATIVE BUY recommendation and $3.50/share target price, based
on our in situ valuation approach to the company's attributable resources (see our Dec.
13/21 Initiation Report for more details).
Step-Out Drilling Extends Goldstorm to Northeast; New Zone Added to Mix
Summary: In March 2021, Treaty Creek was estimated to host 1.13Bt grading 0.68 gpt Au,
3.70 gpt Ag and 0.06% Cu. Nearly three-quarters of that maiden estimate sits in the M&I
categories and nearly two-thirds is considered potentially amenable to open-pit mining
methods, with the more voluminous and gold-rich 300 Horizon starting right at surface.
Furthermore, the consistency and breadth of the underground component may support
a block cave review, similar to one proposed by Newcrest Mining Ltd. (NCM-ASX; Not
Rated) for its majority-owned Red Chris open-pit mine, located at the north end of the
Golden Triangle."