Vatic Ventures Corp (TSXV:VCV) Receives Initial Buy Recommendation from eResearch Corp - Video Summary of Report Posted on www.investmentpitch.com
(Thomson Reuters ONE) -
Vancouver, British Columbia, May 22, 2012 - Toronto based eResearch Corp. has
initiated coverage on Vatic Ventures Corp (TSXV:VCV), giving the company a
speculative buy recommendation with a 12 month target price of $0.48, a healthy
premium to the $0.095 price on the day the report was issued.
InvestmentPitch.com has produced a "video news alert" based on this report. If
this link is not enabled, please visit www.investmentpitch.com and enter
"Vatic" in the search box.
The company has significantly expanded its footprint by signing a strategic
Option Agreement to buy Yamana Gold's La Silla gold property in Mexico. The La
Silla gold-silver property is completely surrounded by the La Silla West
property, which Vatic previously acquired from KJ Gold Canada. The La Silla West
property is located approximately 65 kilometres north of Mazatlan in the State
of Sinalo.
eResearch believes this is an enormous coup for little Vatic Ventures, and that
the company is about to embark on an exciting phase of its brief history.
Yamana, through its Minera Meridian subsidiary, has done considerable work on
the property, having drilled 99 holes and identified 31 gold-bearing veins. The
property's drill-inferred resource inventory is almost 500,000 ounces gold.
eResearch believes that Vatic could be sitting on a resource of at least 1.5
million ounces gold because the property is less than 50% explored, the
unexplored areas exhibit gold mineralization that is similar to mineralization
in explored areas, and drilling at the explored veins has been insufficient.
Still, the company has its work cut out to prove up the resource, as it is
required to spend $8 million on exploration over a four-year period following
the closing of the Agreement in order to gain ownership of La Silla. In addition
to the exploration costs, Vatic must pay $400,000 and issue 6.5 million shares
to earn a 70% interest. To earn the remaining 30%, Vatic must pay another
$750,000 and issue another 3 million shares.
In entering into this Agreement, Vatic will have an on-going relationship with
Minera since Minera has the right to participate in any of Vatic's future
fundings to maintain a maximum 15% ownership in Vatic. Minera also retains a 2%
NSR on commercial production, and may, at its sole option, nominate one director
to Vatic's Board of Directors.
The company other project, the BM Property near Merritt, BC in the Spences
Bridge Gold Belt, was the company's qualifying transaction in January 2011. For
more information on the BM Property, please refer to the NI 43-101 Technical
Report on Sedar.com.
The shares trade at $0.095 and with approximately 16 million shares outstanding
the company is capitalized at $1.5 million.
eResearch believes that if Vatic is successful in its La Silla gold endeavour,
the shares should be in for a good ride.
For more information on the company, please visit their website at
www.vaticventures.com, or contact the company's president Nasim Tyab at
604-566-9399 or email info(at)vaticventures.com.
For a copy of the report, contact eResearch at www.eresearch.ca. While on their
site, sign up for their free reports.
InvestmentPitch.com is a multimedia company that provides a combined solution
for creating and hosting financial video content, and distributing it across
multiple platforms to investors and financial professionals. InvestmentPitch.com
specializes in producing three minute videos based on news releases and research
reports.
CONTACT:
InvestmentPitch.com
Barry Morgan, CFO
604-684-5524
bmorgan(at)investmentpitch.com
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Source: InvestmentPitch via Thomson Reuters ONE
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Datum: 22.05.2012 - 23:36 Uhr
Sprache: Deutsch
News-ID 149119
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