Strandline Resources - New Argonaut research report with 2.8c Target Price
Argonaut has initated research coverage on Strandline Resources (ASX:STA) with a Speculative Buy recommendation and a Price Target of 2.8 cents per share. Argonaut analysts Matt Keane and James Wilson noted the three prong appeal that Strandline offers investors. Firstly, near term production potential from Fungoni, secondly, potential for a large scale mineral sands resources from the Tanga Hub (northern tenements) and other areas, and finally, corporate appeal from producers looking to acquire a dominant position in Tanzania.
Argonaut Securities has initiated research coverage of Strandline Resources with a Speculative Buy recommendation and a Price Target of 2.8c, over 3x the current share price of 0.9c.
Argonaut analysts Matt Keane and James Wilson noted the three prong appeal that Strandline offers investors. Firstly, near term production potential from Fungoni, secondly, potential for a large scale mineral sands resources from the Tanga Hub (northern tenements) and other areas, and finally, corporate appeal from producers looking to acquire a dominant position in Tanzania.
Argonaut believe the release of the upcoming Fungoni BFS and ongoing exploration success will continue to accrete value to the stock.
Key Catalysts:
- The upcoming Fungoni BFS;
- Exploration and development updates from the Tanga Hub (Tanga North drilling commencing shortly);
- Ongoing resource upgrades and new discoveries across the broad tenement portfolio; and
- Potential corporate activity.
To view the Argonaut research report, click here.
