Movers and SHAKERS
Allegiant Gold (AUXXF)(AUAU:CA)
Getting Ready for the Next Round of Drilling
Allegiant Gold Ltd is a gold exploration company. Its project profile consists of Bolo, Browns Canyon, Clara Moro, Four Metals, Monitor Hills, Red Hills, Silver Dome, West Goldfield, White Horse Flats, Mogollon, Eastside, Dutch Flat, and others.
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.
Drilling program. We think Allegiant could commence drilling in October using both reverse circulation (RC) and diamond core drill rigs. The number of rigs may depend on availability which is tight. The company is in the process of securing drilling contractors. Over the next twelve months, management expects to drill 60 to 70 holes, representing approximately 23,000 meters of drilling at targets located within the existing resource pit shell and at other exploration targets. This includes 10 holes, or 6,000 meters, of diamond core drilling along the western edge of the original pit zone and 50 to 60 holes, or 17,000 meters, of step-out and exploration drilling. The company's recent financing provides financial flexibility to fund planned activities.
Permit expected shortly. Because there are significant opportunities to continue to develop the original pit zone by expanding the permitted area from 601 acres to 3,600 acres, exploration drilling will include areas outside the current permitted area, including the East Pediment Zone. We expect the company to receive the permit within the next several weeks ...
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.