Canadian Orebodies (TSXV:CO) 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 Canadian Orebodies (TSXV:CO), giving the company a
speculative buy recommendation with a 12 month target price of $0.70, a healthy
premium to the $0.18 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
"Orebodies" in the search box.
The company is a junior natural resource exploration and development company
with its flagship Haig Inlet iron ore project located in Nunavut, Canada.
eResearch believes this project is a hidden gem in the Canadian iron ore
sector.
The 2,700 hectare project is relatively unknown, but it already has more than
500 million tonnes (at) 35% iron in a NI 43-101 compliant mineral resource. This
resource will likely increase to more than 1 billion tonnes as a result of the
planned exploration of three new targets in 2012 - 2013.
In 2011, Orebodies staked new claims that are to the north and the west of the
property and cover 22,700 hectares of Municipal Land.
The project's location on the Belcher Islands in Hudson Bay is favourable
compared to the locations of many of its more well-known domestic peers. Since
the Belcher Islands are close to Quebec, the project may be able to capitalize
on some of the infrastructure commissioned under Quebec's Plan Nord. The climate
on the Belchers is generally more favourable than for many of the Nunavut-based
iron ore projects. Most importantly, the deposit is located at tidewater and
will not need a costly railroad or a pipeline to get to port.
A Preliminary Economic Assessment for Haig Inlet is expected in early 2013.
eResearch believes a favourable Preliminary Economic Assessment could be the
catalyst to attract a strategic partner, which is the most likely route of
development for the company.
Increased international interest, particularly from China, in the Canadian iron
ore industry in the last two years has led to more than $10 billion in
investment in iron ore projects in Nunavut and the Labrador Trough in Quebec.
eResearch cautions that if the scenario of barging ore to a port in Quebec does
not materialize, the company will have to build a power plant, processing
facilities, and oceanic port facilities on the Belchers.
The company has interests in 11 mining exploration properties located in Canada,
and is in the process of spinning out its other 10 properties into a separate
company, which will allow the company to brand itself as a pure-play iron ore
company.
The shares trade at $0.18 and with approximately 108 million shares outstanding
the company is capitalized at $19.5 million.
For more information on the company, please visit their website at
www.canadianorebodies.com, or contact the company's president & CEO, Gordon
McKinnon at 705-268-9000.
The company's investor relations is handled by First Canadian Capital Corp.
Please contact Jason Monaco at 416-742-5600 or email
jmonaco(at)firstcanadiancapital.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: 23.05.2012 - 01:07 Uhr
Sprache: Deutsch
News-ID 149120
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