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Taylor upgrades Balmoral Resources to buy

2019-08-22 06:59 ET - In the News

Jay Taylor, in the Aug. 15, 2019, edition of Gold, Energy & Tech Stocks, says buy Balmoral Resources Ltd., recently 20.5 cents. Mr. Taylor previously said buy four times from Oct. 18, 2012, to July 16, 2015, at prices ranging from 34 cents to 94 cents. Assuming a $1,000 investment for each of the four buys, the $4,000 position is now worth $1,499. Mr. Taylor is becoming more and more intrigued by Balmoral's Fenelon gold property in Quebec. Last month, Balmoral made two announcements about Fenelon: On July 15, it said it would start a two-hole drill program at a new target called Area 52, and two weeks later on July 31, it announced an expansion of the program to four holes. Mr. Taylor is taking the expansion as a sign that Balmoral likes what it sees. No assay results are in yet, but Mr. Taylor expects them any minute now. He likes Fenelon's neighbourhood in the Sunday Lake deformation zone, which extends into Ontario; the Ontario side hosts the 20-million-ounce Detour Lake gold deposit. That deposit lies along the same contact/structure as Area 52 and is just 80 kilometres to the west. Mr. Taylor is optimistic that Area 52 will show good results, in which case Balmoral's stock "could be off to the races." Buy.

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