Predicts major growth for four small-cap mining companies: Colt, American Manganese, Canada Fluorspar, EMC Metals by Laurentian Bank may 2011
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Equity research firm Laurentian Bank Securities initiated coverage on four mining companies on Friday, dubbing them all as minor metals with "major potential", including gold and tungsten explorer, Colt Resources (CVE:GTP).
Laurentian gave a buy rating to Canada-based Colt, with a price target of $1.30 - nearly double its current trading price.
Colt is focused on advancing its projects in Portugal, specifically the Montemor gold project in the southern part of the country, which Laurentian believes has a multi-million ounce potential base on work completed to date.
Its other significant asset is the Tabuaço tungsten project, which is believed to have huge potential for expansion from its current high grade, low tonnage resource estimate. Pricing of tungsten has nearly doubled in the past year, as China, which provides around 80% of the metal's global output, has recently reduced export quotas.......read more
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