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 0.82 to CAD 0.75.
Abstract
Klondike Gold published further assays from 2022 drilling in the Stander Zone of its Klondike District Property as well as highlights from 2023 exploration activity. The company made several new discoveries in the Gold Run, Gay Gulch, and Dominion targets this summer. These will provide plenty of promising targets for upcoming drilling with the chance to find higher grade Au deposits to boost the mean grade of the mineral resource estimate (RE). Meanwhile, 2022 Stander results show potential to add ounces to the RE and graded mean Au of 0.85 g/t. This was higher than the average RE grade (0.65 g/t) but below the mean Stander grade of 1.03 g/t included in the RE. That said, the company remains confident that there is good resource growth potential in terms of ounces and average grade with further drilling at Stander. We remain Buy-rated on Klondike with a C$0.75 target price (old: C$0.82) after recalculating our pro-forma share count to reflect future financing needs.
Stay In Touch