The Globe and Mail reports in its Friday edition that BMO Capital analyst Andrew Mikitchook started coverage on Founders Metals with an "outperform" rating and $7.50 share target, exceeding the $6.17 average. The Globe's David Leeder writes in the Eye On Equities column that Mr. Mikitchook says in a note: "The high-grade Froyo gold discovery blended with the open pitable bulk zones on the Antino project in Suriname could create a unique high-margin project of scale to the benefit of Founders shareholders. The company has built a track record of exploration success and there appears room for further material extensions and discoveries. We are initiating coverage of Founders Metals with a $7.50 target price and an 'outperform (speculative)' rating based on our conservative placeholder assumptions for an initial development of the Antino discoveries." The Globe reported on June 11 that Hannam & Partners analyst Jonathan Guy had commenced coverage on Founders Metals without a specific rating, but said he expected it to outperform as it demonstrated the growth potential of the highly prospective Antino project and advanced it through the exploration and development process. The shares could then be had for $1.89.