08:15 Tue 26 Sep 2017
Wishbone Gold PLC - Align Research initiation of coverage
Unique gold play providing artisanal miners with processing equipment to gain attractive gold off-take agreements
Rapid growth in gold trading using the Marc Rich/Glencore model
Wishbone is financing equipment to dramatically improve gold production for artisanal miners in countries in
First mill in production shortly with three more to follow in 2018
Proven management led by Sirius Minerals' ex-CEO/Chairman
Aligning interest with shareholders, Wishbone management own the majority of the shares. CEO/Chairman
DCF analysis suggests upside of over 180%
Investors have enjoyed a near 200% increase in the share price in the last 18 months. Discounting forecast cash flows of the gold trading arm and using a peer comparison of the gold exploration projects gives a target price of 1.97p. With the shares currently trading at 0.70p we see material upside & initiate coverage of
To download the full note visit http://www.alignresearch.co.uk/cpt-company/wishbone-gold/
This information is provided by RNS
The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of...
FOR OUR FULL DISCLAIMER CLICK HERE