Global Minerals Ltd. (CTG – $0.19) is a Canadian mineral exploration Company focused on recommencing mining operations at its 100% owned Strieborná silver/copper deposit in Slovakia.
Strieborná has excellent infrastructure, including sufficient electrical power, railway access, paved highways and a work force experienced with underground operations.
An April 2008 NI 43-101 Technical Report on Strieborná included 1.9 million tonnes in the Measured and Indicated category grading 231.7 g/t silver, 1.1% copper, and 0.7% antimony and 1.5 million tonnes in the Inferred category grading 180.0 g/t silver, 0.9% copper and 0.7% antimony.
Due to a fund having to liquidate its position, Global’s stock significantly declined the past couple of weeks giving investors an excellent opportunity to get in at these low levels.
We like the Strieborná project, as it’s already well advanced with limited downside risk. Underground drilling is ongoing, metallurgical studies are advancing and a new resource estimate and Preliminary Economic Assessment (PEA) are on the way.
Based on this information and our peer comparison we initiate coverage of Global Minerals with a buy recommendation and a price target of $0.55 or 123% higher than today’s 30-day average stock price.
Download your copy of the initial Global Minerals Company Report.
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