PI Financial Corp Updates Coverage and Buy Recommendation on Silver Bull Resources (TSX:SVB) (NYSE MKT:SVBL) - Video Posted on InvestmentPitch.com
(Thomson Reuters ONE) -
Vancouver, British Columbia, July 4, 2013 - PI Financial Corp. updates coverage
on Silver Bull Resources (TSX:SVB) (NYSE MKT:SVBL). Following the release of
positive test results from the silver mineralization zone at the company's
flagship project in Mexico, analyst Philip Ker reiterated his buy
recommendation, maintaining his 12-month target of $0.95, a premium of 137% to
the $0.40 price 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 "Silver
Bull" in the search box.
The flagship "Sierra Mojada" project is located 150 kilometers north of the city
of Torreon in Coahuila, Mexico, and is highly prospective for silver and zinc.
Results reported pertain to test work on the silver mineralization from the
three areas of the silver deposit: "Shallow Silver Zone, "Centenario Zone", and
"Fonteriza Zone" and does not include work on the "High grade" zinc zone which
is still ongoing and sits underneath and adjacent to the silver mineralization.
Overall silver recoveries averaged 73.2% with peak values achieving
approximately 89% from various sample grades and cyanide concentrations.
Furthermore, zinc recoveries of 40 to 50% were achieved from a SART process test
from samples where the silver had already been precipitated out of the solution
and is believed this process would significantly aid in reducing costs as more
than 98% of the cyanide was recycled.
Tim Barry, President and CEO stated, "Work going forward on the metallurgy will
now focus on optimizing and improving the silver and low grade zinc recoveries
at various steps along the process, and examining the potential to extract more
value from lead and zinc. By unlocking the metallurgy we have taken another
major step forward in development of one of the largest undeveloped silver
resources in Mexico."
Analyst Philip Ker stated, "We continue to be optimistic of Silver Bull to
further de-risk Sierra Mojada and believe the positive metallurgy demonstrated
today will be a principal component to investigate project economics in an
upcoming Preliminary Economic Assessment that is anticipated later in the 3rd
quarter of 2013. We continue to value shares of Silver Bull on an in-situ basis
only at this time and have only attributed value to half of the in-situ zinc
within the deposit."
Silver Bull also has 2 mineral licenses in Gabon, Central Africa, which are
prospective for gold, manganese, and iron ore.
The company currently trades at $0.39, and with 159.1 million shares
outstanding, the company is capitalized at $62 million.
For more information please visit the company's website
www.silverbullresources.com or contact Matt Hallaran at 604-336-8096 or email
info(at)silverbullresources.com.
For more information about PI Financial or to obtain a copy of their research
report, contact your nearest PI Financial office. Their branches are listed on
their website at www.pifinancialcorp.com.
About InvestmentPitch
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
bmorgan(at)investmentpitch.com
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Source: InvestmentPitch via Thomson Reuters ONE
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Datum: 04.07.2013 - 22:33 Uhr
Sprache: Deutsch
News-ID 275814
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