First Berlin Equity Research has published a research update on Klondike Gold Corp. (ISIN: CA4989033010). Analyst Ellis Acklin reiterated his BUY rating and decreased the price target from CAD 0.85 to CAD 0.82.
Klondike has announced the successful completion of a private placement securing new funds to cover exploration and corporate costs for the upcoming season. Although the company had originally targeted up to C$3m for the round, we consider the C$2.6m in gross proceeds a win in a still challenging financing environment. Management are presently weighing drilling options for exploring new targets and / or expanding the resource. We expect Klondike to announce more concrete plans for the upcoming season in the coming days as well as results of the outstanding assays from 2022 field work. We remain Buy-rated on Klondike Gold with a C$0.82 target price (old: C$0.85) after recalibrating our takeout scenario.