In a Feb. 20 research note, analyst Mick Carew reported that, in an "important milestone," Liberty Gold Corp. (LGD:TSX) received the plan of operations (POO) for Black Pine, a "highly prospective project similar to Goldstrike."
Carew relayed the POO allows the company to drill year-round. As such, it will start a reverse circulation drill program in Q2/19, 80–100 holes covering about 16,000–20,000 meters, which is expected to last until mid-Q4/19.
The POO also affords access to the 7.3 square kilometer (7.3 sq km) zone of an approximate 12 sq km gold system and permission to disturb 141 acres, including for roads and drill pads.
Carew concluded, "We remain steadfast with our valuation, but with further drilling to more confidently demonstrate the potential for mineralization at the project and increase the company's resource, we see further work to have a potential positive effect on our net asset value through adjustments to our resource base."
Haywood has a Buy rating and a CA$1 per share target price on Liberty, whose stock is currently trading at around CA$0.38 per share. "We recommend accumulating shares at current prices," Carew indicated.
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Disclosures from Haywood Securities, Liberty Gold Corp., Radar Flash, February 20, 2019
Haywood Securities, or certain of its affiliated companies, may from time to time receive a portion of commissions or other fees derived from the trading or financings conducted by other affiliated companies in the covered security. Haywood analysts are salaried employees who may receive a performance bonus that may be derived, in part, from corporate finance income.
Haywood Securities, Inc., and Haywood Securities (USA) Inc. do have officers in common however, none of those common officers affect or control the ratings given a specific issuer or which issuer will be the subject of Research coverage. In addition, the firm does maintain and enforce written policies and procedures reasonably designed to prevent influence on the activities of affiliated analysts.
Analyst Certification: I, Mick Carew, hereby certify that the views expressed in this report (which includes the rating assigned to the issuer’s shares as well as the analytical substance and tone of the report) accurately reflect my/our personal views about the subject securities and the issuer. No part of my/our compensation was, is, or will be directly or indirectly related to the specific recommendations.
Important Disclosures
The following Important Disclosures apply for Juggernaut Exploration:
▪ As of the end of the month immediately preceding this publication either Haywood Securities, Inc., one of its subsidiaries, its officers or directors beneficially owned 1% or more of Midas Gold Corp., (MAX-T).
▪ Haywood Securities, Inc. has reviewed lead projects of Liberty Gold Corp. (LGD-T), Midas Gold Corp., (MAX-T) and a portion of the expenses for this travel have been reimbursed by the issuer.
▪ Haywood Securities Inc. or an Affiliate has managed or co-managed or participated as selling group in a public offering of securities for Liberty Gold Corp. (LGD-T) in the past 12 months.
▪ Other material conflict of interest of the research analyst of which the research analyst or Haywood Securities Inc. knows or has reason to know at the time of publication or at the time of public appearance: n/a.
