Price Potential of More Than 240%
The analysts at Couloir Capital have recently taken a closer look at the Canadian gold exploration company Juggernaut Exploration (JUGR.V / FSE: 4JE). They consider the stock a “buy,” albeit a risky one, with a price target of 0.36 CAD. From the current price of 0.105 CAD, this represents an upside potential of around 243%.
Juggernaut, according to the experts, owns three highly promising projects in or near the Golden Triangle of British Columbia, a world-class mining region with significant discoveries and developments. And, Couloir continues, each individual project has high-grade, gold-rich, polymetallic discoveries that would justify further exploration activities and a resource estimate.
Support from Renowned Fund Company
Regarding the company’s financial situation – always an important point for exploration companies – the analysts state that Juggernaut is supported by the renowned fund company Crescat Capital, which holds just under 20% of the company’s shares. Moreover, Couloir notes, Juggernaut raised 4.8 million CAD in the first half of the year to finance exploration on two projects in the 2024 season.
According to the report, at least 6,000 meters of drilling are planned, distributed across the Bingo and Midas properties. (In the meantime, drilling at Bingo has already begun, editor’s note). Couloir further states that Bingo looks very similar to the nearby Surebet discovery by Goliath Resources, which features numerous high-grade shear zones and veins. (More on this HERE)
In contrast, the Kokomo target on the Midas property would show indications of a high-grade VMS (Volcanogenic Massive Sulfide) target in the style of Eskay Creek, according to the analysts. Furthermore, membership in the so-called B-All Syndicate provides Juggernaut access to further discoveries in northwestern British Columbia.
Conclusion: Based on the initial discoveries and the delineation and further definition of mineralization on the company’s projects, Couloir Capital recommends Juggernaut Exploration’s stock with a “buy” rating and assigns a price target of 0.36 CAD, where they see the fair market value of the company.
