10:25:05 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Coral Gold Resources Ltd
Symbol CLH
Shares Issued 42,825,337
Close 2014-08-20 C$ 0.20
Market Cap C$ 8,565,067
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Taylor says buy back into Coral Gold

2014-08-21 21:12 ET - In the News

Jay Taylor, in the Aug. 13, 2014, edition of Gold, Energy & Tech Stocks, says buy Coral Gold Resources Ltd., recently 18 cents. He previously said buy on Sept. 15, 2009, at 65 cents, and then sell on Sept. 20, 2011, at 49 cents. Assuming a $1,000 investment for the initial buy, the sale would have yielded a loss of $266. Coral holds the Robertson property in the Cortez trend of Nevada. There are three main claim blocks: the core claims, fully owned by Coral; Gold Ridge, where Barrick Gold has an option to earn 75 per cent; and the other claims, where Coral works with Barrick and has a 39-per-cent carried interest. All these claims adjoin Barrick's Pipeline Cortez mine. In 2012, Cortez completed a preliminary resource estimate on its core claims, forecasting production of 57,900 ounces a year for 10.5 years. Mr. Taylor is more intrigued by Gold Ridge. On June 26, Coral announced that Barrick had committed to a $12-million exploration program over five years and had started drilling. Success would be a "game changer" for Coral, says Mr. Taylor. Given the core claims' development potential and Barrick's eagerness to explore Gold Ridge, he thinks shareholders who buy Coral are buying a "very low-priced lottery ticket."

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