- Labrador Gold released its second set of results from Kingsway this week, with a highlight hole of 1.85 meters of 50.38 grams per tonne gold.
- While this is the best hole drilled to date at Kingsway from a gram-meter standpoint, this looks like an outlier, similar to the previous highlight intercept in K-21-12.
- Many investors continue to point out that Labrador Gold is too cheap given that it's a comparable to New Found Gold at an early stage, but the results suggest differently.
- Based on the results released to date, I see no reason to chase the stock above US$1.35, and I see the current market cap as very difficult to justify unless results improve materially.
For further details see:
Labrador Gold: Increasingly Difficult To Justify Valuation Based On Current Results