Initiating Coverage
We are initiating coverage on Westhaven Gold Corp. (TSXV:WHN) with a BUY rating and a target price of C$1.15/sh representing 180% upside from the current share price. Westhaven is a first mover into the Spences Bridge Gold Belt (SBGB) in southern BC, where it is advancing four 100%-owned Au-Ag projects. Recent focus has been at its flagship Shovelnose project, where an ongoing 40,000m drill program is taking place with the goal of defining a resource at the South Zone and testing several nearby targets. We believe the upcoming maiden resource is just the start of what could eventually become a multimillion-ounce gold camp.
