- Marathon Gold is down nearly 20% from its 52-week highs despite continued drilling success from the company's Berry Zone at Valentine Lake.
- While multi-million ounce open-pit gold deposits are plentiful in Tier-1 jurisdictions, Marathon remains a rare breed with a high-grade open-pittable resource in Newfoundland.
- Based on current valuations, the stock is trading below the average paid for Tier-1 gold ounces, especially if we include resource upside at Berry.
- I continue to see the stock as a top-10 takeover target in the sector, and I would view any pullbacks to US$1.55 as low-risk buying opportunities.
For further details see:
Marathon Gold: A Look At The Valuation After The Drop