Friday, June 17, 2022

Allegiant Gold (AUXXF)
Keeping an Eye Out for the Next Update

Allegiant owns 100% of 10 highly-prospective gold projects in the United States, seven of which are located in the mining-friendly jurisdiction of Nevada. Three of Allegiant’s projects are farmed-out, providing for cost reductions and cash-flow. Allegiant’s flagship, district-scale Eastside project hosts a large and expanding gold resource and is located in an area of excellent infrastructure. Preliminary metallurgical testing indicates that both oxide and sulphide gold mineralization at Eastside is amenable to heap leaching.

Mark Reichman, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Drilling through the remainder of the year. In April, Allegiant Gold commenced its 14,000-meter drilling program at Eastside. We expect two rigs to be in operation at Eastside through the remainder of the year. With the recent investment by Kinross Gold Corporation (NYSE: KGC, TSX: K), along with its technical advisory support, deeper core drilling will help to better assess Eastside’s high-grade potential. We might expect the company to provide an update soon.

Updating estimates. We have updated our estimates and forecast a 2022 net loss per share of C$(0.02) compared to our prior estimate of C$(0.01). Our revised estimate reflects greater expenses associated with investor relations, professional fees, and non-cash share-based payments….

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.