Balmoral Resources Ltd BALMF

Pi Financial on BAR

[Chaulkdust]

"Balmoral Resources Ltd. (T-BAR) Rating: BUY | Target: $1.05  |  Analyst: Phil Ker
Balmoral’s Martiniere gold system is an extensive mineralised system spanning 3.5km along strike with mineralization intercepted across more than 700m of vertical extent. Four high-grade deposits remain open to depth. Further, Balmoral continues to make satellite discoveries, currently being followed up. The Bug trend consisting of the Lower Steep, North, South and Southeast zones will comprise the bulk of an upcoming maiden resource. The structural corridor provides for near surface and mineralization at depth. The Martiniere project remains considerably underexplored despite Balmoral’s efforts year after year. With favorable geology and structure along the Sunday Lake and Lower Detour deformation zones, Balmoral has a treasured land package ripe for future discoveries. Additionally, one of Balmoral’s key discoveries on the property made thus far is the Grasset nickel sulphide deposit which boasts a 10.2 mln tonne  resource grading 1.1% NiEq (or 238 mln in-situ lbs NiEq).  Grasset hosts an attractive high grade core offering grades in excess of 10% Ni. Grasset offers investors optionality and exposure to nickel in a rising metal price environment. Considering the lack of development multi-million ounce gold projects located in Canada and nickel deposits globally, we believe Balmoral has an attractive pipeline of projects that could evolve into prime acquisition targets. For its 2018 exploration season, Balmoral enters its winter program with ~$10 mln in cash."

No mention of the pending Gold RE?

[AlternativeView]

"Considering the lack of development multi-million ounce gold projects located in Canada" Is Kerr implying that Martiniere is a "multi-million ounce" deposit?  Sure seems that way to me. For the benefit of kbagai, I will point out that the term "multi" means at least two.  But then, I don't remember kbagai weighing in with any numerical prediction at

[kbagai]

Tiny MRE, under 1m ounces. I say 700k plus /minus. multiyear drilling program with such little resource is due to lack of focus and lack of real experience of these clowns. Grasset needs a lot more work to fetch a good price, better to do farm out now and share some costs to capture value quickly. Clowns won’t get it though, there career is so over. Shalom

[AlternativeView]

Thank you for your straight forward response. In my opinion, 700K is so for from the stated number that Balmoral management would necessarily become classified as liars, if you are correct.  But I suppose it would not be the first time this has happen in the junior mining space. On the other had,  I just don't think that Darrin is capable of that sort of deception.  And to

[kbagai]

Well that’s my call for this MRE. but they will do their best to say there are multi million ounces coming soon, reality will be sub 1 million . Wait and watch. 

[AlternativeView]

kbagai: You do realize that PI Financial analyst Kerr said, "The Bug trend consisting of the Lower Steep, North, South and Southeast zones will comprise the bulk of an upcoming maiden resource." The only piece missing from this list appears to be Martiniere West, which is now only a small piece that has not seen any drilling in years.  Also, perhaps they might only include the