First Berlin Equity Research has published a research update on Klondike Gold Corp. (ISIN: CA4989033010). Analyst Ellis Acklin reiterated his Buy rating and maintained his CAD 0.85 price target.
Klondike Gold Corp has published its long-anticipated maiden resource estimate (RE) comprising 0.47 Moz Au indicated at 0.68 g/t and 0.11 Moz inferred at 0.54 g/t. The total ounces were above our target (FBe: 0.5 Moz Au at ~1 g/t), while g/t was below. The pit-constrained resource covers drilling conducted between 2014 and 2021 and reflects gold suitable for an open pit. We regard this as a seminal moment for KG that separates the company from the pack of junior explorers. The resource also means Klondike is responsible for documenting the first-ever bedrock mineral resource in the 125 year history of the Klondike District area since the 1896 ?gold rush‘. We remain Buy-rated on Klondike with a C$0.85 target price.