The Globe and Mail reports in its Friday, Sept. 11, edition that Desjardins Securities analyst Simon Wildsmith rates Banyan Gold "buy" in new coverage. The Globe's David Leeder writes in the Eye On Equities column that Mr. Wildsmith set a share target of $3. Analysts on average target the shares at $2.75. Mr. Wildsmith believes Banyan Gold is "growing the next deposit with scale in the Yukon." Mr. Wildsmith says in a note: "We see the strong existing infrastructure and lack of key wildlife concerns as supporting permitting timelines for the project; we model first production in 2033 following project financing in 2030. With the recently suspended Eagle gold mine to the north (approximately 35 kilometres) currently in receivership with PricewaterhouseCoopers (PwC), discussions between the receiver and Boroo Pte. for a potential sale could further validate the district, support regional infrastructure and provide other opportunities if a sale is successful." In justifying his bullish view, Mr. Wildsmith emphasizes the importance of the miner's experienced team. He adds, "Banyan has been led by CEO Tara Christie since 2016."
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