As a result of the reallocation of resources, Red Cloud is discontinuing coverage on the following companies: Arianne Phosphate Inc. (TSXV:DAN) – now unrated (was BUY, C$1.50/sh target, Timothy Lee), Brixton Metals Corp. (TSXV:BBB) – now unrated (was BUY, C$0.50/sh target, Taylor Combaluzier), Fiore Gold Ltd. (TSXV:F) – now unrated (was BUY, C$2.50/sh target, Timothy Lee), Gold79 Mines Ltd. (TSXV:AUU) – now unrated (was BUY (S), Taylor Combaluzier), Great Panther Mining Ltd. (TSX:GPR) – now unrated (was BUY, C$1.40/sh target, Timothy Lee). Our previous estimates should no longer be relied upon.
Tag: Brixton Metals Corp.
Brixton Metals reported the first set of assays from its maiden drilling campaign at the Trapper Au target, a deep-rooted multi-phase Au-porphyry system, at its 100%-owned Thorn Cu-Au-Ag-Mo project in NW BC. The program comprised 15 shallow holes totaling 3,107.34m, of which, results were released for three holes. The highlight hole returned a grade-thickness (GT) of ~300 m*g/t Au, which we believe is a stunning intercept, especially for a first-pass program at a relatively new target.
Q3 Producer Preview & Commodity Price Update – Lowering Gold Price Forecasts While Most Commodities Increased
Q3 operating and financial results are to be announced over the next few weeks. While gold is out of favour, prices have been trading within a narrow window that have allowed companies to continue to turn profits, despite an uncertain outlook. Late summer was hard on most commodities as precious and industrial metals alike fell on a slowdown in global economic growth due to surging fuel prices, Chinese power restrictions, labour shortages, disrupted global supply chains and a stronger USD. Metal prices came under further pressure as major property developer Evergrande missed further bond payments, impacting iron ore and copper prices. With this update, we provide new commodity price and FX forecasts, updated coverage estimates, and a fresh set of top picks.
Brixton Metals reported the first set of drill results from 2021 drilling at the Camp Creek porphyry target at its 100%-owned Thorn project in NW B.C. This drilling follows up on results from its 2020 program that discovered a Cu porphyry. The new results include long intervals of porphyry style mineralization and a proximal conductive feature. Between the increasingly positive drill results that suggest to us that the company is vectoring towards the core of the system, and the recently completed MMT survey that shows that drilling has tested only the margin of the multi-km scale anomaly, we believe it could only be a matter of time until Brixton intersects the central part of the Camp Creek porphyry system and there is a marked increase in CuEq grades.