CQT Speculative Out Perform Price $0.39 Target $0.50
Received a management update last week on the Mt Carlton Gold-Silver-Copper Project. Silver Hill (part of Mt Carlton) is shaping up as one of the most exciting mineral discoveries in recent times, with every new drill hole adding to the size and knowledge of the project. The most easterly holes at Silver Hill (52 and 53) returned 45m @ 3.6g/t Au, 32g/t Ag & 0.3% Cu, and 46m 9.1g/t Au, 68g/t Ag & 1.1% Cu respectively, leaving the ore body open to the north and east.
With the strong likelihood of further impressive drilling results and resource increases at Silver Hill we believe there is little risk purchasing CQT below 40¢, and believe that if the resource at Silver Hill can be doubled to 1.0m ounces AuEq over the coming months, a valuation closer to 60¢ would be more appropriate
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