Renforth Resources Resumes Field Work on Lalonde Battery Minerals Structure
We’re quite excited to see what this package looks like once it’s uncovered” says Nicole Brewster, President and CEO of Renforth Resources Inc. (CSE: RFR | OTCQB: RFHRF) as they resume field work on Lalonde battery minerals structure in Quebec.
RFR is @0.035¢ market price but with 0.25¢ value for Parbec and 0.11¢ for Surimeau read below RFR has the best of both world with Parbec Au open pit (mineralization starts at surface) Parbec Gold Property located 6 km northwest of the large Canadian Malartic open pit gold mine (Agnico Eagle Mines Limited and Yamana Gold Inc.) and adjoining the former East Amphi Gold Mine, all located on or near the gold‐localizing Cadillac Break.
According to Zack, based on comparative analysis of junior battery metals companies in the exploration- developmental phase, a mid-first quartile price-to-book (P/B) ratio of 7.6 indicates a share price target of US$0.08 or 0.11¢ Canadian
We reiterate our buy recommendation for Renforth Resources with a price target of $0.29, which is 480% above today’s stock price.
Renforth Resources (RFR) Company Report – May 07, 2022 Renforth Resources is a mineral exploration company that focusses on easily accessible Canadian-based gold projects. It holds Parbec, an open pit gold deposit, and Surimeau, a district scale battery metals discovery, both located near Malartic, Quebec, along with several other mineralized properties. While the magnitude for Surimeau continues to build, Parbec remains the most advanced asset. A structural study for the property is now underway, led by a specialized consulting firm. The extensive database of geological data will be reviewed to interpret similarities with other nearby gold deposits. The objective is to determine potential gold-bearing structural features that may be identified for exploration targets. These zones present the opportunity to expand the size of the deposit with additional exploration. Surimeau presents the right mix of resources at the right time, located in the ideal jurisdiction. Battery Metals are becoming the story of the commodity boom. Surging demand has placed a greater priority on advancement of new domestic deposits of these critical raw materials. Renforth has already delivered a discovery success at Victoria West with the confirmation of a large base metals system. The effort now shifts to expand on this beachhead.
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