PI Financial Updates Buy Recommendation on Kootenay Silver - Video Summary on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - October 25, 2013) - PI Financial has updated coverage on Kootenay Silver Inc., (TSXV: KTN). Following the release of positive assays, analyst Philip Ker reiterated his buy recommendation and 12-month target price of $1.00, a premium of 59% to the $0.63 price the day the report was issued.
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Kootenay Silver is focused on the advanced development of its flagship Promontorio Silver Project situated in the emerging Sierra Madre Mining Region of Sonora, Mexico.
In a recent milestone development, the company released results from an independent NI 43-1-1 resource study that pegged the total resource at Promontorio at more than 119 million silver equivalent ounces and has the potential to grow, through a current 30,000 metre drill program during 2013.
The current round of drilling is focused on delineating a new high grade breccia zone found during the spring drill campaign which was identified between the historic Promontorio Pit and the North East Zone. The three holes outlined in the latest news release were situated to fill that void and help in identifying further mineralization along strike and up-dip.
The highlight hole #DH-191-13 outlined 25 metres of 183 grams per tonne silver equivalent which included 94 grams per tonne silver, 0.75 grams per tonne gold, and 2.41% lead/zinc. An additional 7 holes are pending assays.
PI Financial anticipates a new resource update upon completion of the fall drill campaign incorporating the new geologic data collected from drilling and using updated metal prices. They also expect an initial Preliminary Economic Assessment on Promontorio sometime in mid 2014.
Analyst Philip Ker stated, "We continue to be impressed with the positive assay numbers coming from Promontorio and continue to support efforts being made to expand and define mineralization from its vast land package…… and value shares of Kootenay Silver on an in-situ basis only at this time."
To maximize potential for additional, new discoveries while maintaining minimal share dilution, Kootenay has multiple, ongoing joint venture partnerships in place in both Mexico and Canada
The company currently trades at $0.65, below the $1.00 target price, and with 62.8 million shares outstanding, the company is capitalized at $40.8 million. For more information, please visit the company's website www.kootenaysilver.com or contact Jim McDonald at 403-238-6986 or email firstname.lastname@example.org.
For more information about PI Financial or to obtain a copy of their research report, contact your nearest PI Financial office. Their branches are listed on their website at www.pifinancialcorp.com.
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