BC8 is trading at 1/3rd the average Goldie and that they have several plants and camps. It seems ridiculous. I'm sure the wake up will come.
Recommendation: BUY
1 Price Target: $0.73
EVENT
Black Cat has announced that drilling at Paulsens has encountered visible gold in the **bro Veins. First production potentially next year.
HIGHLIGHTS
- Black Cat commenced its exploration program at Paulsens in early November and has completed the first six diamond drillholes in to the **bro Veins.
- Visible gold was intersected in three of the drillholes, hosted in thick quartz veins.
- The **bro Veins are in the footwall of the Paulsens decline and are readily accessible for a potential mining restart.
- We like Black Cat because;
- It is a cheap stock in a cheap sector - trading at an EV/oz multiple of just $24/oz – which compares to its WA peer group at $72/oz, and recent acquisitions above $100/oz.
- It has a clear pathway to production of over 150kozpa of gold with first production potentially as early as next year.
- Black Cat has embarked on a comprehensive exploration program around both Coyote and Paulsens. Exploration success at either will be game changing for the company. These were assets that were non-core for Northern Star and so despite the obvious prospectivity, have been very lightly explored.
BC8 TA, page-3
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