The Globe and Mail reports in its Thursday, Sept. 12, edition that Eight Capital analyst Ralph Profiti continues to rate Kinross Gold "buy." The Globe's David Leeder writes that Mr. Profiti boosted his share target by a loonie to $16. Analysts on average target the shares at $15.25. The preliminary economic assessment for Kinross Gold's Great Bear project in the Red Lake district of Northern Ontario exceeded Mr. Profiti's expectations. Mr. Profiti says in a note: "Ongoing drilling to depth has already shown multiple wide, high-grade intercepts beyond the current PEA2024 resource. Deep drilling from surface demonstrates the continuation of mineralization at depth and the upside potential for further resource and mine life additions for exploration progress at depth. Expansion of the LP Zone continues to confirm the thesis of high-grade mineralization continuing at depth, including the deepest drill hole to date in Q2/24, which returned 3.8m at 9.52 g/t at a vertical depth of 1,575m, demonstrating robust mineralization at depth, well outside the current resource. Kinross expects strong grades to continue as drilling extends deeper. ... In 2024, Kinross will continue to focus drilling to link zones at depth at LP."
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