Jay Taylor, in the Jan. 14, 2020, edition of Gold, Energy & Tech Stocks, refreshes his buy of Balmoral Resources Ltd., recently 37 cents. Mr. Taylor said buy five times from Oct. 18, 2012, to Aug. 15, 2019, at prices ranging from 20.5 cents to 94 cents. Assuming a $1,000 investment for each of the five buys, the $5,000 position is now worth $4,511. Balmoral owns the Detour East property package in Quebec. This covers a series of gold projects near the multimillion-ounce Detour mine owned by Detour Gold, which is in the process of being taken over by Kirkland Lake Gold. Balmoral is not letting the majors have all the fun exploring this prolific gold region. It recently completed a nine-hole drill program at its Area 52 project, targeting the high-grade, near-surface Ripley zone. Highlights from the program included 0.39 metre of 32.7 grams per tonne gold and 22.08 metres of 0.68 g/t gold. Mr. Taylor notes that Ripley is just one of three significant gold zones found within Area 52, and is just one of many intriguing targets located along Balmoral's stretch of the Detour gold trend. As exploration continues, Mr. Taylor reckons that "2020 should be very exciting for Balmoral shareholders." The stock is a buy at current levels.
© 2020 Canjex Publishing Ltd. All rights reserved.