Tracy Salcedo of The Gold Report - Tue, Jul 5, 2016

Visible Gold Unearthed at Newmarket's Fosterville Mine

Assay results from Newmarket Gold's Harrier South gold system have confirmed the potential for expansion at the company's Fosterville Gold Mine in Australia.

NMIHarrier

In a June 27 press release, Newmarket Gold Inc. (NMI:TSX; NMKTF:OTCQX) announced positive results from a 57-hole drill program intended to define resource extensions at Fosterville. Highlight assays include 22.13 g/t gold over 3.4m from the Harrier base structure and 16.6 g/t gold over 30.5m in the Osprey zone.

The results prompted a pair of analysts to respond to the findings.

In a note published on June 28, Heiko Ihle of Rodman & Renshaw notes that "the targets of the drilling program are directly down plunge from active mining operations, and the Harrier South target is just 1.2 kilometers south of the Phoenix and Lower Phoenix reserves. Given this, we believe the drilling program in the area could further upgrade resources to additional reserves."

Ihle also mentioned the fact that, in association with drill results, "visible gold" was discovered at Harrier. "It showed up in Hole UDH1559." the analyst wrote.

Also in a June 28 note, analyst Philip Ker of PI Financial commented that the 2016 drill program "has thus far been aggressive and confirmed positive results" at the site.

"With confirmation of increasing grades at depth down plunge from existing underground infrastructure at Fosterville, we anticipate Newmarket to focus on reserve growth and demonstrate increasing mine life at its flagship operation," Ker wrote. ". . .With further upside yet to come at Fosterville and other exploration efforts at its operations, we believe Newmarket will continue its re-rating to become valued more in-line with its peers."

Ihle expressed confidence about the long-term potential of Fosterville, noting "exploration success should be had as the mine continues to prove itself as a top-tier gold asset."

Ihle also believes that Newmarket's stock could also benefit from the recent Brexit vote, noting "gold has once again reared its head as the premier safe haven asset, with an approximate 5% increase in price on the day following the vote. . .Newmarket stand to benefit from both an increase in the gold price as well as a continued relatively weak Australian dollar." The increase in "asset prices" could also spur Newmarket to "evaluate internal growth opportunities, such as Maud Creek."

Disclosure:
1) Tracy Salcedo compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. She owns, or her family owns, shares of the following companies mentioned in this article: None.
2) The following companies mentioned in this article are sponsors of Streetwise Reports: Newmarket Mines Inc. The companies mentioned in this article were not involved in any aspect of the article preparation so the expert could speak independently about the sector. Streetwise Reports does not accept stock in exchange for its services. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
3) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
4) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons quoted or interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their families are prohibited from making purchases and/or sales of those securities in the open market or otherwise during the up-to-four-week interval from the time of the interview until after it publishes.
5) The analysts? reports quoted in this article disclose the following:
I, Philip Ker, hereby certify that all of the views expressed in this report accurately reflect my personal views about the subject securities or issuers. I also certify that no part of my compensation was, is, or will be, directly or indirectly related to the specific recommendations or views expressed in this report. I am the research analyst primarily responsible for preparing this report.
I, Heiko F. Ihle, CFA and Jake Sekelsky, certify that 1) all of the views expressed in this report accurately reflect my personal views about any and all subject securities or issuers discussed; and 2) no part of my compensation was, is, or will be directly or indirectly related to the specific recommendation or views expressed in this research report; and 3) neither myself nor any members of my household is an officer, director or advisory board member of these companies. None of the research analysts or the research analyst?s household has a financial interest in the securities of (including, without limitation, any option, right, warrant, future, long or short position).
PI Financial and/or its affiliates expect to receive or intend to seek compensation for investment banking services from the subject company.
Rodman & Renshaw and/or its affiliates expect to receive or intend to seek compensation for investment banking services from the subject company.

InvestorsGuru.com publishes interesting contributor articles in addition to its own content. We have not verified any of the above details.

Sign-up at InvestorsGuru.com (or blog.InvestorsGuru.com) for our Small Cap Stock Observer newsletter, and to set-up your own My Portfolio, My Watchlist & Alerts and News by Email preferences, or to post at our AnyTicker.com Bulletin Boards. Free!

Please note that nothing in this report should be taken as a recommendation in any way, and that everything from InvestorsGuru.com is subject to the terms of our Privacy Policy and Disclaimer.

comments powered by Disqus

Detailed Quote Portal

symbol lookup | (TSX add :ca)

Membership Privileges

  • Investors Guru Small Cap Stock Observer - newsletter emailed monthly!
  • Featured Stock Profiles - emailed on occasion!
  • News by Email - as it's released, according to your My Preferences!
  • My Portfolio - login to view or update your holdings, or have it emailed daily!
  • My Watchlist & Alerts - login to view or update your stock radar list, and set price triggers for email alerts!
  • Bulletin Boards - no need to request boards, just Quote it! Social Sign-on & Share your ideas, observations & trends!
  • Find it all! Find it Fast! Comprehensive stock research webpages. No more endless clicking!

Email: (see Privacy Policy)
Password: (4-15 characters)
Username: (4-15, BB posts etc)

unsubscribe anytime


Bookmark and Share

 Subscribe in a reader

Our Mobile Site