Six Simple Reasons Why This Resource Stock Is An Excellent Investment
Renforth Resources (CA:RFR – $0.04 & US:RFHRF – $0.03) is a mineral exploration company that focusses on easily accessible Canadian-based gold projects. Reasons to own Renforth stock:
1. Renforth has a couple of projects with already attractive gold resource estimates (Parbec ~700,000 ounces of gold, and New Alger ~237,000 ounces of gold).
2. There is significant potential to expand and upgrade these resources. In fact, new resource estimates will be published for both properties for the end of 2019.
3. The Company’s geologists can drive to and work on the properties the year round. No helicopters are necessary to access the properties.
4. Next to Parbec and New Alger, the Company has several other properties with blue sky potential.
5. All of its properties are located in Canada, one of the safest mining jurisdictions worldwide.
6. After being stagnant for several years between $1,100 and $1,350, the price of gold has shot up to over $1,500 the past six months. This indicates that we could be on the verge of a new gold revival.
Renforth’s prime project locations, along with its heavily discounted value in terms of enterprise value per ounce of gold resource, make it an intriguing potential acquisition target by some of its giant mining neighbors.
As a result, we initiate coverage of Renforth Resources with a buy recommendation and a price target of $0.12, which is 200% above today’s stock price.
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