February 15, 2022 (Investorideas.com Newswire) White Gold Corp. released positive assay results from follow-up diamond drilling at its Ulli’s Ridge target located at its 420,000 ha property in Yukon, Canada. The firm highlighted that drill hole WHTULR21D004 intersected 19.5 m of 6.5 g/t Au, which included 1.5 m of 39.1 g/t Au. Stifel Nicolaus Canada Inc. commented in a research note that the company is significantly undervalued and that this latest set of drill results may have a positive impact on the company’s share price.
Precious metals analysts Stephen Soock, P. Eng., CFA and Myles Wilson of Stifel Nicolaus Canada Inc. stated in a February 10 research report that Yukon gold explorer White Gold Corp. (WGO:TSX.V; WHGOF:OTCQX; 29W:FRA) just released several additional high-grade assay results from its Ulli’s Ridge target. Ulli’s Ridge is located 3 km west of the company’s flagship Golden Saddle and Arc deposits and immediately south of its Ryan’s Surprise target. The analysts commented that the results outlined in the announcement are expected to “move the needle for the White Gold property” and positively impact the price of the stock.
The analysts advised that White Gold commenced its maiden diamond drilling program at Ulli’s Ridge last November. Stifel Nicolaus Canada wrote that the drilling team employed the use of a downhole televiewer to gain spatially oriented structural information that aided in the discovery of two separate gold-bearing structures that dip downward and are targeted for follow-up drilling this year.
On February 10, 2022, White Gold Corp released results from exploration diamond drilling at its Ulli’s Ridge target. The assay results were quite favorable and included 19.5 m of 6.94 g/t Au, which included 1.5 m of 39.1 g/t Au; 18.5 m of 1.36 g/t Au, including one segment of 3.5 m of 5.2 g/t Au; and 1.7 m of 4.6 g/t Au. The analysts advised that the highest grade hit from these drilling results came from the area where the two newly identified structural sets intersected.
The report from Stifel Canada mentioned that White Gold successfully raised CA$9 million from one of its strategic investors via a private placement near the end of 2021. This added capital is more than sufficient to fund the company’s 2022 drill programs.
The analysts remarked that, “This new discovery at Ulli’s could help bring the resource base in and around Golden Saddle up to the 2 Moz mark we think is necessary for the project to be spun out and acquired.” The research firm noted that the sale of the Golden Saddle/Arc deposits would create a major positive catalyst for the company.
The analysts stated that as drilling continues, and targets are advanced at its Betty, Sabotage, Titan, Vertigo and other targets and additional discoveries are made this will likely trigger an upward re-rating for White Gold’s stock.
White Gold is a gold-focused exploration firm operating in the historic White Gold district south of Dawson City, Yukon. The company is a “prospect generator” that seeks to find new gold discoveries and advance the newly found targets to a point where they can either be spun out or sold to mine developers and producers.
Stifel Nicolaus Canada Inc. stated that it is maintaining its “Buy” rating and CA$2.70 per share target price for White Gold Corp. The research firm explained that it arrived at its valuation based upon a 1.35 Moz Au mineable base at White Gold’s Golden Saddle/ARC property along with an added insitu valuation for other potential discoveries across the rest of its vast land package.
The firm’s shares trade under the symbol “WGO” on the TSX Venture Exchange and last closed for trading at CA$0.68/share on Friday, February 11, 2022.
1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: White Gold Corp. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with White Gold Corp. Please click here for more information. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of White Gold Corp., a company mentioned in this article.
Disclosures Stifel, White Gold Corp., Jan. 2022
White Gold is a client of Stifel Canada or an affiliate or was a client of Stifel Canada or an affiliate within the past 12 months.
White Gold is provided with investment banking services by Stifel Canada or an affiliate or was provided with investment banking services by Stifel Canada or an affiliate within the past 12 months.
Stifel Canada or an affiliate has received compensation for investment banking services from White Gold in the past 12 months.
Stifel Canada or an affiliate expects to receive or intends to seek compensation for investment banking services from White Gold in the next 3 months.
The equity research analyst(s) responsible for the preparation of this report receive(s) compensation based on various factors, including Stifel’s overall revenue, which includes investment banking revenue.
Visit the Research Page at www.stifel.com for the current research disclosures and respective target price methodology applicable to the companies mentioned in this publication that are within Stifel Canada’s coverage universe. For a discussion of risks to target price including basis of valuation or methodology, please see our stand-alone company reports and notes for all stocks.
The information contained herein has been prepared from sources believed to be reliable but is not guaranteed by us and is not a complete summary or statement of all available data, nor is it considered an offer to buy or sell any securities referred to herein. Opinions expressed are as of the date of this publication and are subject to change without notice. These opinions do not constitute a personal recommendation and do not take into account the particular investment objectives, financial situation or needs of individual investors. Employees of Stifel, or its affiliates may, at times, release written or oral commentary, technical analysis or trading strategies that differ from the opinions expressed within. Stifel or any of its affiliates may have positions in the securities mentioned and may make purchases or sales of such securities from time to time in the open market or otherwise and may sell to or buy from customers such securities on a principal basis; such transactions may be contrary to recommendations in this report. Past performance should not and cannot be viewed as an indicator of future performance.
Unless otherwise noted, the financial instruments mentioned in this report are priced as of market close on the previous trading day and presumed performance is calculated always over the next 12 months.
As a multi-disciplined financial services firm, Stifel regularly seeks investment banking assignments and compensation from issuers for services including, but not limited to, acting as an underwriter in an offering or financial advisor in a merger or acquisition, or serving as a placement agent in private transactions.
This news is published on the Investorideas.com Newswire – a global digital news source for investors and business leaders
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.
More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com