01:50:43 EDT Fri 26 Apr 2024
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Balmoral Resources Ltd
Symbol BAR
Shares Issued 110,381,521
Close 2015-06-15 C$ 0.78
Market Cap C$ 86,097,586
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Lundin says hold Balmoral

2015-06-15 20:44 ET - In the News

Brien Lundin, in the June, 2015, edition of the Gold Newsletter, says hold Balmoral Resources Ltd., recently 91 cents. Mr. Lundin said buy Balmoral in July, 2014, at $1.54 and in March, 2015, at $1.03. Assuming a $1,000 investment for each of the two buys, the $2,000 position is now worth $1,473. Balmoral recently released assays for 11 holes from a drilling program on its Martiniere gold property in Quebec. The newsletter editor highlights hole 175A, where the company drilled 15.75 metres of 9.3 grams per tonne gold. Mr. Lundin notes that the hole, located on the Bug Lake trend footwall zone, demonstrates the potential for the trend to host a substantial amount of gold. Mr. Lundin says results from another nine holes from the winter program are still pending. Balmoral will resume drilling at Martiniere in the second or third quarter. Mr. Lundin reminds his readers that he thinks Martiniere is one of a number of intriguing projects in Balmoral's 700-square-kilometre Detour trend project in Quebec. He decides that he will move the stock to a hold while he waits to see how the company's plans for its Detour trend project lay out for the rest of the year.

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