nowwhat2 thank you, Moneta Porcupine Mines Inc (TSX:ME) More Coverage
by.... Globe says Moneta Porcupine Mines called "undervalued" 2020-06-05 07:56 ET - In the News The Globe and Mail reports in its Friday, June 5, edition that Industrial Alliance Securities analyst George Topping says Moneta Porcupine Mines (14.5 cents) is "undervalued."
The Globe's David Leeder writes in the Eye On Equities column that Mr. Topping notes Moneta's "desirable location in an existing camp with many underutilized mills and record gold prices."
Accordingly, Mr. Topping began coverage of the gold exploration company, which owns six projects in the Timmins mining camp, with a "buy" rating.
Mr. Topping set a share target of 35 cents.
Analysts on average target the shares at 40 cents.
Mr. Topping further notes that "insiders and major shareholders have added 2.7 million shares through the public market, which to us is a bullish signal."
Eric Sprott, a "renowned" gold investor, recently increased his interest in Moneta and now holds 9 per cent of its shares.
Mr. Topping says in a note: "As the resource grows and/or is upgraded via infill, Moneta will undergo a multiple expansion. We await the PEA on the project before we assign our own metrics to a potential mining plan.
However, we see a scenario where the company could secure toll treatment, or preferably, buy a nearby mill."
2020 Canjex Publishing Ltd. All rights reserved. by JON72
Moneta Porcupine Mines Inc. ME TSX Exchange 1st mining comp listed @ TSE - The giant Au with so many great old mining properties in Timmins Canada's richest mining camp - may Wake UP :-)) -
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