The Globe and Mail reports in its Friday, Aug. 4, edition that Eight Capital analyst Puneet Singh rates Karora Resources "buy" in new coverage. The Globe's David Leeder writes in the Eye On Equities column that Mr. Singh set his share target at $7. Analysts on average target the shares at $6.52. Mr. Singh says in a note: "While gold sentiment has been poor, the gold price at current levels ($1,900/oz) continues to offer miners strong margins. Karora is on the cusp of FCF generation after years of higher capex. On the TSX, we highlight how Wesdome, a Canadian gold producer, has recently missed its goals as it ramps up its Kiena mine. On a consolidated basis, Wesdome is guiding to produce 110-130Koz at $1,620-1,800/oz AISC [all-in sustaining costs] in 2023. Yet, Wesdome trades at a higher valuation across the board than Karora, which is guiding to produce 145-160Koz (H1/23 performance trending toward the top end of guidance) at $1,100-1,250/oz AISC. We think a rerating will likely occur over the NTM, on the back of Karora's FCF inflection this year, production growth out to 2024, and simply due to a lower capital intensity business model leveraging existing infrastructure."