Blackwolf Copper & Gold Ltd. (BWCG:TSX.V) recently found gold grades as high as 19.9 grams per tonne (g/t) of gold (Au) on the company's Cantoo property, located in Alaska's Golden Triangle. The company reported those results in a press release from January 19, 2024.
The company has a history of finding bonanza-grade results on its project, as analyst Taylor Combaluzier noted, and this record of success also prompted strategic shareholder Frank Giustra to increase his stake in the company in late October of 2023.
Gold and Copper Ready to Take Off
An article from Sprott Money predicted on January 18, 2024, that gold is poised for a breakout despite the recent dip in prices. The article stated, "Simply put, the corrections in gold and silver are coming to a close. The peak in the 10-year and the DXY will signal the beginning of the rally to new record highs in gold." New investors might then look at these current low prices as an opportunity to break into a market about to take off.
Taylor Combaluzier with Red Cloud Securities rated Blackwolf Copper & Gold as a "Buy" with a target share price of CA$0.55 and a potential return on investment of 293%.
On January 2, 2024, Investor Place released a report examining gold's unique influence among investors, which seems to defy normal trends due to the commodity's status as a "safe-haven" investment. Investor Place named a number of factors driving gold towards a possible breakout, including rising global tensions and the falling value of the dollar.
These causes were also discussed in an article by Mining Discovery, which predicted that "An economic downturn accompanied by more rate cuts than currently expected might send gold to new record highs."
Copper, on the other hand, may not have dipped but still looks ready to take off, according to a Bloomberg report from January 23, 2024. Bloomberg discussed the copper market with Robert Friedland of Ivanhoe Mines, who said the market was "very, very tight and now in deficit."
239% Potential Return
On January 29, 2024, Taylor Combaluzier with Red Cloud Securities rated Blackwolf Copper & Gold as a "Buy" with a target share price of CA$0.55 and a potential return on investment of 293%.
The report cited the company's expansion of its geological understanding of the Harry and the Cantoo projects, as well as the company's plans for future drilling on those projects. Combaluzier said that the company's stock could have even more potential, "Positive exploration results and/or a discovery could potentially help drive the stock price higher."
A Couloir Capital report also rated the company as a "Buy" on December 7, 2023.
On January 31, 2024, analyst J. Taylor included Blackwolf Copper & Gold in a list of gold, energy, and tech stocks to look into as the economy moves into a possible recession. It highlighted the company's encouraging drill results and the value of its properties, especially the Niblack project and the Harry project.
A Couloir Capital report also rated the company as a "Buy" on December 7, 2023, and gave the company a share target of CA$0.39, and a potential return on investment of 89%. A major factor in his review of the company was the Harry property's history of bonanza-grade drill results, which included 312 g/t of gold as the company reported in a press release from October 30, 2023.
Technical Analyst Clive Maund looked at the company's stock patterns on October 24, 2023, and rated the company as a "Speculative Buy." Maund commented, "On its 6-month chart, we can see that the Head-and-Shoulders bottom pattern that has been forming since August, with a big buildup in upside volume over the past week or so that has driven the Accumulation line strongly higher and thus points to an upside breakout soon.
According to the company's investor presentation, there are a number of catalysts, including a possible expansion of the Niblack project.
Streetwise Ownership Overview*
Ownership and Share Structure
Refinitiv provided a breakdown of the company's ownership and share structure, where management and insiders own approximately 4.87% of the company. According to Refinitiv, Executive Chairman Robert John McLeod owns 2.24% of the company with 2.44 million shares, Director Andrew William Bowering owns 1.73% of the company with 1.89 million shares, CFO Susan Marie Neale owns 0.69% of the company with 0.75 million shares, CEO Morgan Lekstrom owns 0.19% of the company with 0.21 million shares, and Corporate Secretary Lindsey Le Ho owns 0.02% of the company with 0.02 million shares.
Refinitiv reports that institutions own approximately 6.94% of the company, as Crescat Capital, L.L.C. owns 4.66% of the company with 5.08 million shares, U.S. Global Investors, Inc., owns 0.46% of the company with 0.50 million shares, and Nanjia Capital Limited owns 0.09% of the company with 0.10 million shares.
Frank Giustra, a strategic investor, owns 14.65% of the company with 15.96 million shares.
According to Refinitiv, there are 108.96 million shares outstanding with 87.69 million free float traded shares, while the company has a market cap of CA$11.19 million and trades in the 52-week period between CA$0.11 and CA$0.49.
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- Blackwolf Copper & Gold Ltd. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$4,000 and US$5,000.
- As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Blackwolf Copper and Gold Ltd.
- Amanda Duvall wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
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