Tag: Cassiar Gold Corp.
We are transferring coverage of Cassiar Gold Corp. (GLDC) to Koby Kushner and are increasing our target price to C$1.25 (was C$1.00) after reevaluating our mineral inventory expectations following the successful 2021 drill program at GLDC’s 100%-owned Cassiar Au project in BC. In our view, the results from last years’ drill program demonstrate resource expansion potential at the ~1M oz Taurus bulk-tonnage deposit at North Cassiar, having successfully encountered wide intervals of Au mineralization within gaps and along the outer margins of the deposit. Further, the results from South Cassiar so far have returned bonanza grades, underscoring the high-grade potential that exists south of Taurus. With 20,000-30,000m planned for the next drilling season, we are expecting lots of news flow from GLDC over the coming year.
Cassiar announced initial results from its ongoing 2021 drilling campaign at its 100%-owned Cassiar Au project in BC. Results were released for six holes at Cassiar South (i.e. the southern half of the property), testing lateral and down-dip extensions of the previously mined Bain vein. With grade x thicknesses up to ~168 m*g/t Au, we believe these results highlight the high-grade potential of unmined portions of historical veins, and we expect additional high-grade intercepts to follow.
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.