Balmoral Resources (BAR.TO) has announced that the company has discovered a very high-grade vein system at Grasset which resulted in an intercept of 7.5 meters containing in excess of 10% nickel as well as 0.74% copper, 1.86 g/t platinum and 4.87 g/t palladium.
That’s pretty good, and Balmoral’s exploration success wasn’t limited to the Grasset project as the company is also continuing to develop the Martiniere Gold project which is bordering the Grasset nickel claims. At Martinière, Balmoral has now confirmed high recovery rates for both gold and silver as the recovery of both previous metals was 91.4% and 80.2% respectively.
As Balmoral’s share price has lost a lot of value since the summer of last year (it’s trading 78% lower compared to its peak at C$1.98), we consider Balmoral to be an interesting company to be picked up now the tax loss selling season is over, as a quality asset will always be able to generate interest from either investors or potential acquirers.
Go to Balmoral’s website
The author holds a small long position in Balmoral Resources. Please read the disclaimer
