Initiating Coverage
We are initiating coverage on Blackwolf Copper and Gold Ltd. with a BUY rating and C$0.70/sh target price. Blackwolf is advancing the Niblack Cu-Au-Zn-Ag project located in SE Alaska, host to ~842k oz AuEq or 397M lb CuEq in I&I resources. It also wholly owns the Hyder properties in Alaska, which includes a portfolio of four properties in proximity to the Premier, Silver King and Big Missouri projects being developed by Ascot Resources (TSX:AOT, Not Rated). Blackwolf is also jointly evaluating the concept of building a polymetallic mill in Kitsault, BC, that could serve as a centralized processing plant for multiple mines in the southern part of the Golden Triangle. With plenty of exploration upside and a potential future pathway to production through Kitsault, we believe investors should pay close attention to the Blackwolf story as exploration results continue to serve as the main share price driver in the coming months.
