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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (70107)	10/31/2019 9:22:50 AM
From: Goose94	Read Replies (2) of 202784

Wesdome Gold Mines (WDO-T) Echelon Wealth Partners analyst Ryan Walker upgraded shares to "buy" from "hold." Mr. Walker boosted his share target to $8.75 from $6.40. Analysts on average target the shares at $8.36. Mr. Walker says he was impressed with Wesdome's Eagle River mine exploration results. Mr. Walker says in a note: "WDO notes that the drilling has extended the 303 Lens from the 750-metre level to the 1,300-metre level, and demonstrated above average widths and grades. The 303 lens has powered WDO's recent strong production performance -- contributing to milled head grades of 23.4 grams per ton in both Q219 and Q319. Importantly, extension of the zone implies a continuation of milling above average reserve grades beyond 2020, as initially suggested. Equally important, the zone remains open down-plunge. The increases reflect the adoption of an updated price deck. On the back of the recent drilling we have also increased our assumed mill head grade to 17 g/t from existing reserve grade of 12.5 g/t in 2020. We contend that the deserved premium valuations reflect continued production growth at Eagle River."

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