Initiating Coverage
We are initiating coverage on EnviroGold Global Ltd. (CSE:NVRO, OTCQB:RGOZF) with a BUY (S) rating and C$0.70 target price, representing 112% upside from the current share price. EnviroGold is looking to create value by reprocessing mine tailings. It plans to leverage its metallurgical expertise and deploy modular and scalable processing plants to several tailings sites throughout the globe to extract valuable metals left behind by prior operators. We believe there is strong potential for NVRO’s share price to materially re-rate over the coming year as it grows and de-risks its tailings portfolio and sets itself up for initial production.