Analysts at Atrium Research have taken a close look at the shares of the Canadian gold explorer Avanti Gold (WKN A3ECT4 / CSE AGC). They conclude that the stock represents a “buy” and assign a price target of CAD 0.90. This means an upside potential of 64% at the time the analysis was prepared!
Avanti Gold holds a 73.5% stake in the Misisi gold project in the Democratic Republic of Congo (DRC). However, Atrium Research points out that there is potential to increase the stake by diluting minority interests if their holders do not participate proportionally in the exploration costs.
As the experts explain, this is a well-known, high-grade discovery for the exploration and development of which the company has recently assembled a strong management team. And that has also been recognized by the market, according to Atrium.
The Akyanga deposit already has an inferred gold resource of 3.1 million ounces of gold at an average of 2.37 g/t gold, but there is considerable potential to expand the resources on the 133 square kilometers controlled by Avanti with its 30-year mining license, it added. Especially since Avanti plans to launch an extensive exploration campaign at the beginning of the New Year!
The investment thesis for Avanti Gold
Atrium Research emphasizes with regard to the Akyanga deposit of the Misisi project that it is one of the few open-pit resources with more than 2 g/t gold worldwide. A total of 3.1 million ounces of gold at 2.37 g7t have been proven and Avanti has mining licenses for the entire project area of 133 square kilometers, which will not expire until 2045. In the analysts’ view, this significantly reduces the project risk.
According to them, the company plans to launch an aggressive exploration campaign of 15,000 meters of drilling early in 2026 in order to substantially increase the known resources in the coming years.
Cost-effective entry with 2,100 meters of untested drill cores
As Atrium further explains, Avanti has received approval to send its historical drill cores to a laboratory in Tanzania for analysis. Since only around 20,000 meters of historical drilling are known to date, this could expand the database by around 10%. And this could potentially allow the company to increase its inferred resource and extend the known mineralization along the strike and at depth, without having to spend any drilling costs. According to the experts, the analysis results are expected in the first quarter of this year. This will then be followed by the first phase of exploration.
Significant exploration potential
Avanti has not yet carried out its own drilling, but historical soil sampling and IP surveys on the 55-kilometer-long Kibaran gold belt have already delineated priority targets, according to Atrium Research. The company has so far identified five additional drill-ready targets within 25 kilometers of the deposit and Akyanga itself remains open along strike and at depth.
In addition, the analysts see great parallels to the recently acquired Loncor Resources. As early as October 2025, Chengtun Mining had announced the acquisition of Loncor and its 85% stake in the Imbo project in the DRC. The project’s 4 million ounce gold (2.50 g/t gold) resource was valued at USD 56 per ounce. The experts now see numerous similarities between Imbo and Misisi. However, the Misisi resource is only valued at USD 35 per ounce, which highlights a direct, short-term valuation gap.
Avanti Gold has the right team for the development of Misisi
As Atrium Research explains, Avanti’s world-class asset has a long history, but it has mostly been in domestic hands and little capital has been available to advance its development. However, Avanti has now begun to assemble a strong team that has been successful in the past at major African mining companies. And this has already been reflected in the share’s 12-month performance.
The experts at Atrium Research see possible triggers for further price increases in the analysis results of the 2,100 meters of untested drill cores (Q1), the confirmation of key management positions and contracts with drilling companies (Q1) and the first phase of the drilling program (H1).
In view of all this, Atrium Research is initiating coverage of Avanti Gold with a price target of CAD 0.90 and a “buy” rating.
