Fair Value Assumed at 0.40 CAD
The analysts at Couloir Capital have closely examined the shares of the gold exploration company Golden Cariboo Resources Ltd. (CSE:GCC; OTC:GCCFF; FSE:3TZ). They view the company as a “Buy”, albeit risky, and see a price potential of 286% at the time of recommendation.
As the experts emphasize, Golden Cariboo is led by the same team that triggered the gold rush in the Cariboo mining camp in the Canadian province of British Columbia with their discoveries. Golden Cariboo’s Quesnelle Gold Quartz Mine (QGQ) project is also in a similar environment to Barkerville, Couloir Capital continues. Barkerville, in turn, is a historical hard rock gold mine that was discovered by following placer gold streams.
The historical gold and silver production from hard rock mines near Hixon confirms, according to the analysts, that the Cariboo Camp trend extends more than 75 kilometers north to Wells-Barkerville.
Potential for Large Tonnage – and High Grades
What makes Golden Cariboo’s project particularly interesting for Couloir Capital is the potential for large tonnage targets on QGQ. This, it was further stated, is demonstrated by mineralization recently drilled by the company, which extended over 260 meters. The analysts also point out that visible gold in the ongoing drilling further indicates potential for high-grade drill results from the mineralized targets.
Another positive factor for the analysts at Couloir Capital is that Golden Cariboo has managed to extend the strike from the historical mines to the latest drilled mineralization intersections in the trend by more than 1 kilometer.
As the company is also financed to continue the 2024 drilling program, Couloir recommends buying Golden Cariboo stock. This, according to the experts, allows one to participate in the discovery of a gold resource in a Tier 1 jurisdiction. Couloir sees the fair value of Golden Cariboo stock at 0.40 CAD. At the time of the analysis publication, this meant a price potential of 286%. After the stock has already gained somewhat in recent days, it’s still about 116% to the experts’ price target.
