This was in a stockhouse article.
Boaz continues to like Shore Gold [V.SGF], which he mentioned in a previous interview with StockHouse. Shore Gold is a mineral exploration company with properties in
Saskatchewan. De Beers [DBRSY], Falconbridge [T.FL] and Kensington Resources [V.KRT] also have holdings in the area. Shore Gold has discovered kimberlite
deposits that contain diamonds and macrodiamonds with dimensions greater than 0.5 mm.
"It's a fascinating story," Boaz says. Shore Gold will have an open pit mining operation, rather than a shaft mining operation, which means costs will be dramatically
reduced.
The stock has been trading in a tight range around $1, closing on Monday even at $0.90. In May, Boaz expected a breakout to the upside on assay results that were
rumored to be extremely positive. Those results were delayed, but new assays are expected soon.
Boaz says that a report from a respected mining consulting firm that examined the Shore Gold property is due out next week. "Right now, they believe it is the largest
kimberlite deposit in the world. It's tremendously exciting."
A target of $3 is well within reach, Boaz believes. However, he expects the report from the mining consulting firm to put a target of at least $5 on the stock. |
