Jennings Capital Initiates Coverage on Volta Resources (TSX:VTR) with a Speculative Buy Recommendation - Video Overview Posted on www.InvestmentPitch.com
(Thomson Reuters ONE) -
Vancouver, British Columbia, February 6, 2013 - Investment firm Jennings Capital
has initiated coverage on Volta Resources (TSX:VTR). Analyst Dan Hrushewsky
gives the company a speculative buy recommendation and a 12-month target price
of $1.35 per share, a 200% premium to the current price of $0.44.
InvestmentPitch.com has produced a "video news alert" about Volta Resources
based on this report. If this link is not enabled, please visit
www.InvestmentPitch.com and enter "Volta" in the search box.
Volta's flagship project, the Kiaka Gold Project, is located in Burkina Faso,
the 4th largest gold producer in Africa. Burkina Faso's mining friendly mining
code, government, people, and its geo-political stability, have driven huge
growth in its gold mining industry, with six new gold mines built since 2007.
The Company has completed a prefeasibility study at its Kiaka Gold Project. A
recently updated NI 43-101 compliant resource at Kiaka Gold Project, including
Kiaka South reports Measured and Indicated Resources of 4,029,000 ounces and
Inferred Resources of 1,000,000 ounces of gold. This resource is contained
within a single open-pit, down to an average vertical depth of 500 metres.
Included in the resources are Proven and Probable Mineral Reserves of 126.08
million tonnes at a diluted grade of 0.96 grams per tonne gold at a 0.40 grams
per tonne cut-off.
Jennings Capital believes this project is the largest single undeveloped
resource in West Africa, with 98% of the ounces in one pit.
It is anticipated that Volta will present its Bankable Feasibility Study in the
third quarter of 2013, on a selective mining scenario, based on the revised
January 2013 resource estimate.
At its Gaoua Copper-Gold Project, Volta has defined a maiden NI43-101 compliant
resource which includes over 1,072,000 ounces of gold and 725 million pounds of
copper on two of potentially several porphyry deposits located on 35 kilometre
of strike of a porphyry corridor held by the company.
Volta Resources is exploring on a total of 9 projects, comprising 29 individual
properties over highly prospective greenstone belts, located in both Burkina
Faso and Ghana.
Management has extensive West African experience, which Jennings believes was
the primary reason behind Randgold Resources' (LSE:RRS) reason to vend the Kiaka
Project to Volta in 2009.
Jennings believes there is limited downside risk, stating, "Our valuation of
Volta's non-core assets equals $78 million, which is higher than the current
market capitalization of Volta."
Volta Resources currently trades at $0.44 and with 155 million shares
outstanding the company is capitalized at $68 million.
For more information please visit the company's website www.voltaresources.com,
or call Kevin Bullock at 416-867-2299 or email kbullock(at)voltaresources.com.
For more information about Jennings Capital or to obtain a copy of their
research report, contact your nearest Jennings Capital office. Their branches
are listed on their website at www.jenningscapital.com.
InvestmentPitch.com, 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, 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: 06.02.2013 - 20:07 Uhr
Sprache: Deutsch
News-ID 227102
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