Fundamental Research Initiates Coverage on Equitas Resources (TSXV:EQT) - Video Summary Posted on www.InvestmentPitch.com
(Thomson Reuters ONE) -
Vancouver, British Columbia, March 16, 2012 - Fundamental Research has initiated
coverage on Equitas Resources (TSXV:EQT). Analyst Siddarth Rajeev gives the
company a speculative buy rating.
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
"Equitas" in the search box.
The company is focused on its flagship property, the Day Copper-Gold Porphyry
project in north-central British Columbia. The project, located about 380
kilometres northwest of Price George, covers approximately 7,119 hectares, and
consists of 5 historical showings. Just 55 kilometres north of the Day project
you'll find the Kemess Mines operated by AuRico Gold
Originally discovered and drilled by Falconbridge in the early 70's, historic
drilling intercepted as high as 0.67% copper, and 0.93 grams per tonne gold,
over 58.83 metres, as well as 0.54% copper, and 0.75 grams per tonne gold over
57 metres.
Fundamental estimates that "Based on historic drilling assays, the Day and
Porcupine area of the project could potentially contain 137 million pounds
copper equivalent, grading 0.60%. The project has good potential to establish a
NI 43-101 compliant resource and expand the resource upon further exploration
work on the project."
In September 2011, the company closed a $2.26 million financing by issuing
15.06 million units at a price of $0.15. Chinese producer, Zijin Mining Group
invested $1.35 million, through their wholly-owned subsidiary, Yield Gold Group.
Fundamental notes that Zijin trades on the Hong Kong Exchange and has a market
cap of approximately $15 billion USD, claiming to be the largest gold producer
in China, and the third largest copper producer.
Fundamental believes "The Zijin investment is a significant development as it
indicates Zijin's confidence in Equitas' assets and its management team."
Equitas' management has initiated plans for a comprehensive exploration drilling
program to start in the 3rd quarter of 2012.
Given that the Day property has no NI 43-101 compliant resource estimate, and
that Fundamental's in house estimate is highly preliminary and speculative,
Fundamental has not assigned a valuation or rating at this time.
The company currently trades at $0.095, and with 51 million shares outstanding,
it is capitalized at $5 million.
For more information, please visit the company's website
www.equitasresources.com, or call Matt Sroka at 604-219-2140 or email
mattsroka(at)equitasresources.com.
You can also obtain a copy of the Fundamental research report at
www.researchfrc.com.
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
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: InvestmentPitch via Thomson Reuters ONE
[HUG#1594726]
Unternehmensinformation / Kurzprofil:
Datum: 16.03.2012 - 15:39 Uhr
Sprache: Deutsch
News-ID 125651
Anzahl Zeichen: 3989
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 192 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Fundamental Research Initiates Coverage on Equitas Resources (TSXV:EQT) - Video Summary Posted on www.InvestmentPitch.com"
steht unter der journalistisch-redaktionellen Verantwortung von
InvestmentPitch (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
