Allegiant Gold (AUXXF)(AUAU:CA)
Building on a Successful 2021
Allegiant Gold is a mid-stage exploration stage company with 10 highly prospective projects in the southwest United States, including 7 projects in the State of Nevada. Allegiant’s flagship project is Eastside, a district-scale project in Nevada with inferred resources of 1.4 million gold and 8.8 million silver ounces of inferred resources and significant potential to add size and scale. The company’s shares trade on the TSX Venture Exchange under the ticker symbol “AUAU” and on the OTCQX under the ticker symbol “AUXXF.”
Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Expectations for 2022. Reverse circulation (RC) drilling will focus on the east pediment zone and the western high-grade anomaly and entail thirty holes to about two hundred meters depth using one rig. Core drilling is planned to define high-grade areas discovered during the most recent drill program but could be deferred until May due to an eagle’s nest near the area of planned drilling. Allegiant has filed for an eagle take permit that would allow for the relocation of the eagles and nest that is near the high-grade zone. Otherwise, drilling would have to follow the eagle nesting cycle.
No near-term funding needs. Allegiant closed a C$5 million financing in August and receives proceeds associated with its option portfolio, including cash and marketable securities. The company recently amended its Bolo option agreement with New Placer Dome Gold Corp. (TSX.V: NGLD, Not Rated) which provided Allegiant with US$650,000 in share and cash payments in December 2021 …
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.