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So, 5. Februar 2023, 22:33 Uhr

Eloro Resources

WKN: A12C1E / ISIN: CA2899003008

Original-Research: Eloro Resources Ltd. (von Sphene Capital GmbH): Buy


20.10.22 08:41
dpa-AFX

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Original-Research: Eloro Resources Ltd.

- von Sphene Capital GmbH



Einstufung von Sphene Capital GmbH zu Eloro Resources Ltd.



Unternehmen: Eloro Resources Ltd.


ISIN: CA2899003008



Anlass der Studie: Update Report


Empfehlung: Buy


seit: 20.10.2022


Kursziel: CAD 16,20 (adjusted by new number of shares)


Kursziel auf Sicht von: 24 Monate


Letzte Ratingänderung: -


Analyst: Peter Thilo Hasler



Multiple intersections with high-grade sections discovered



This week, Eloro Resources announced assay results from two more diamond


drill holes from its ongoing drilling programme at the Iska Iska silver-tin


polymetallic project in the Potosi Department, South Bolivia. One hole


tested the extension of the core of the high-grade feeder zone at Santa


Barbara, a second tested the potential south-western limits of the


high-grade feeder zone. Once again, several significant intercepts were


discovered, including intervals of up to 211.34 g Ag eq/t (over 6.02 m),


according to the company. With an immaculate 100% track record of holes


drilled that intersected reportable mineralization, we reiterate our Buy


rating for Eloro Resources and calculate a fully diluted share price target


of CAD 16.20 (previously CAD 16.90, adjusted by the new number of shares),


derived from an in-situ valuation of Iska Iska's Santa Barbara Breccia


Pipe. We consider the recent pullback in the company's stock price (during


a general weak environment for explorer stocks), as an attractive entry


point for investors, as Eloro Resources is now ideally positioned and fully


financed, in our view, to aggressively advance its current portfolio of


development projects. Should the company be able to finally make a


discovery and eventually delineate a mineral resource at Iska Iska, we


believe the share price could quickly re-rate towards our price target.



Eloro Resources has released assay results from two more diamond drill


holes from the Iska Iska silver-tin polymetallic project. Hole DSB-36,


drilled 400 m southeast of the Santa Barbara adit, again returned


significant results. Mineralisation ranged from 211.34 g Ag eq/t over 6.02


m to 180.29 g Ag eq/t over 24.13 m. According to the company, 52% of the


hole contained reportable intercepts, which together averaged 112.48 g Ag


eq/t.



To date, the company has completed 79,258 m in 118 drill holes at Iska


Iska. The latest assay results confirm our assessment that the high-grade


feeder zone extends further across the valley of the Iska Iska caldera than


previous geophysical surveys have indicated (see exhibit 1). For example,


drill hole DSB-36 has extended the strike length by a further 400 m to the


south-southeast, with no apparent end to the strike. Currently, two


laboratories are analysing drill cores with a length of approximately


14,213 m. Since the turnaround times of the mandated laboratories have


shortened considerably after the Corona pandemic subsided, we expect that


most of the backlog will be processed by the end of November. With that, we


expect the newsflow to remain steady.



Die vollständige Analyse können Sie hier downloaden:


http://www.more-ir.de/d/25639.pdf



Kontakt für Rückfragen


Peter Thilo Hasler, CEFA


+49 (89) 74443558/ +49 (152) 31764553


peter-thilo.hasler@sphene-capital.de



-------------------übermittelt durch die EQS Group AG.-------------------




Für den Inhalt der Mitteilung bzw. Research ist alleine der Herausgeber bzw.


Ersteller der Studie verantwortlich. Diese Meldung ist keine Anlageberatung


oder Aufforderung zum Abschluss bestimmter Börsengeschäfte.



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01.02.23 , dpa-AFX
Original-Research: Eloro Resources Ltd. (von Sphen [...]
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