Missed this from last week
Globe says new coverage rates Osino Resources "buy"
2023-08-04 07:13 ET - In the News
The Globe and Mail reports in its Friday, Aug. 4, edition that Eight Capital analyst Puneet Singh rates Osino Resources "buy" in new coverage. The Globe's David Leeder writes that Mr. Singh target the shares at $2.60. Analysts on average target the shares at $2.46. Mr. Singh says in a note: "With the Twin Hills feasibility study now complete, Osino is now on the cusp of key milestones. Upon receipt of secondary permits (EC est. H2/23), we'd expect the company to look to procure project financing for Twin Hills. Around the time of permit receipts, a take-out scenario could also develop. Management is well-versed in the country having sold the Ojikoto gold project to B2Gold (which owns an undisclosed position in OSI as well). With technical work being the focus over the last year, in 2023 the company is refocusing efforts on exploration. Extensions of known zones and high grade shoots have yet to be fully tested. Osino will drill multiple near-mine targets this year. Additionally, OSI recently bought the Ondundu project within trucking distance of Twin Hills. Key risks to our target price and valuation include commodity price risks (gold), development, regulatory, financing, and key management/personnel risks."
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