Balmoral Resources Ltd.

Balmoral Resources Ltd. is a Vancouver-based precious metal exploration and development company focused on the delineation of both high-grade gold and nickel-copper-PGE discoveries on its wholly owned Detour Gold Trend project in Quebec, Canada. With a philosophy of creating value through the drill bit and with a focus on proven productive precious metal belts, Balmoral is following an established formula with a goal of maximizing shareholder value through the discovery and definition of high-grade gold and base metal assets.

Expert Comments:

Balmoral Resources' announcement that summer drilling has increased the vertical depth of the company's Bug North deposit by 36% prompted a pair of analysts to comment on the company's discovery prospects.
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Philip Ker, PI Financial (11/22/16)
"Balmoral Resources Ltd. announced positive exploration news from its efforts at the Bug Lake Gold target on its Martiniere property in Quebec. In total, five holes were announced with three from the Bug North zone and two from the Southeast zone. . .we are impressed with the project developments across Martiniere and highlight that Balmoral continues to discover additional gold occurrences across its property; we note that no formal resource estimate exists on its gold projects and expect the company to continue to delineate the Bug Lake project with infill and extensional drill efforts."

Barry Allan, Mackie Research Capital (11/22/16)
"Balmoral Resources Ltd. released results for four drill holes on the Bug Lake area of the Martiniere property designed to test lateral and vertical continuity of mineralization previously discovered . . .BAR also has the Grasset nickel discovery in West-Central Quebec, which represents a new nickel resource that has achieved an initial critical mass. . .the resource remains open to depth and along strike. However, further work on this discovery is on hold pending a recovery in the price of nickel. . .we maintain our $1.50/sh target price and our SPECULATIVE BUY rating."

Thibaut Lepouttre, Caesars Report (11/15/16)
"Balmoral Resources Ltd. has now been able to confirm the width of its Bug South gold project on the Martiniere project is increasing pretty quickly after having encountered long and/or high grade gold intervals during its ongoing summer drill program on the property. Four of the drill holes were aiming to intersect the Upper Bug zone 50-100 meters below the previously intersected gold zones at Martiniere, and these four holes have now increased the size of the mineralized envelope. . .we are expecting Balmoral Resources to publish more assay results in the next few weeks."

Brien Lundin, Gold Investment Letter (11/1/16)
"Balmoral Resources Ltd. continues to actively drill Martiniere, its key gold property within its larger Detour Trend project in Quebec. Recent strong assays from Bug Lake South at Martiniere suggest the known deposit on this property is far from closed off. . .with drilling likely to begin soon on its nearby Detour East property, Balmoral shouldn’t lack for news flow. The company has an enviable portfolio of projects and its actively pursuing the most promising of these."

Philip Ker, PI Financial (10/17/16)
"We are impressed with the project developments across Martiniere and highlight that Balmoral Resources Ltd. continues to discover additional gold occurrences across its property. . .we note that no formal resource estimate exists on its gold projects and expect the company to continue to delineate the Bug Lake project with infill and extensional drill efforts. . .given Balmoral’s multiple moving parts, we are maintaining our NEUTRAL rating and our $1.05/sh target price. . .our target is based on a 1.0x NAV based on our valuation for Grasset and Martiniere deposits. Shares of Balmoral have a SPECULATIVE risk rating."

Brien Lundin, Gold Newsletter (Jefferson Financial) (10/1/16)
"Balmoral Resources Inc.'s Bug South is capable of becoming a significant gold deposit to go along with the ones already outlined on Bug North and Martiniere West. . .with all three deposits identified to date on this property wide open for expansion, the growth potential via the drill bit is significant at Martiniere. . .the company is moving forward with drilling of Bug South along strike and at depth. . .given the upside here, I think the recent dip in Balmoral’s share price makes for an ideal entry point to either build or add to your position."

Balmoral Resources has announced a "rapid increase in the width of the Bug South gold deposit," leading one analyst following the Canadian exploration and development company to increase his target price.
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More Expert Comments

Experts Following This Company

Barry Allan, Vice Chair of Mining Group, and Senior Mining Analyst – Mackie Research Capital
Thom Calandra, writer The Calandra Report
Mick Carew, Analyst – Haywood Securities
Ryan Hanley – Mackie Research Capital
Louis James, Editor – Casey Research
Philip Ker, Mining Analyst – PI Financial
Byron King, Editor – Agora Financial
Eric Lemieux, Analyst – PearTree Securities
Thibaut Lepouttre, Editor Caesars Report
Brien Lundin, Author Gold Newsletter (Jefferson Financial)
Greg McCoach, Editor – Mining Speculator

The information provided above is from analysts, newsletters, the company and other contributors.

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