RE:Nice article We are reiterating our BUY rating, and adjusting our fair value estimate from $2.14 to $2.48/share. TUD is the most under-valued gold junior among our list of comparables. Upcoming catalysts include drilling, and promising M&A prospects.
Ongoing dispute with Seabridge Gold’s proposed tunnel route, which overlaps Tudor’s mineral claims; we believe both parties stand to benefit from reaching a mutually favorable pathway to advance their projects to production, avoiding delays.
Gold has surpassed its previous high, and is currently trading at US$2,170/oz. We maintain a positive outlook on gold given the potential weakness in the US$, fueled by the Fed's relatively dovish stance compared to other central banks. Upcoming catalysts include resource expansion drilling, and a PEA. We believe TUD is a promising M&A candidate as Treaty Creek is one of the largest undeveloped gold projects in the world.