General Metals Group (OTCBB:GNLM) has been rated “Speculative Buy” with a target price of $2.20 by Beacon Equity Senior Research Analyst, Lisa Springer, CFA.
The full report is available at http://www.BeaconEquityResearch.com.
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In the report the analyst writes, “General Metals Corporation is a junior mineral resource exploration company that is identifying, acquiring, exploring and developing gold, silver and other precious metals properties. The Company recently acquired 100% control of the Wilson-Independence mine, located in the gold belt region of northern Nevada. The Company has rights to 14 mining claims spread across a 240 acres property.
“General Metals has identified both shallow and deep mining targets on its claim at the north end of the Independence mine property. These consist of two shallow targets, the North Target and the Independence Target, and the Wilson Deep Target. General Metals believes there is potential to develop a gold resource of 235,000 ounces from its shallow targets and 1.5 million ounces from its deep target.
“General Metals believes there is potential to develop a gold resource of 235,000 ounces from its surface targets and 1.5 million ounces from its deep target. At $640 per ounce gold prices, the value of the shallow target gold production would exceed $150 million and the value of potential production from the deep target could exceed $960 million.”
For valuation purposes, other notable competitors in the mining industry include: Yamana Gold (NYSE:AUY), Kinross Gold (NYSE:KGC), Barrick Gold (NYSE:ABX) and Paramount Gold Corp (OTCBB:PGDP).
Beacon Equity Research Disclosure
The analysts contributing to this report do not hold any shares of General Metals Group (GNLM). Additionally, the analysts contributing to this report certify that the views expressed herein accurately reflect the analysts' personal views as to the subject securities and issuers. The analyst(s) writing this report recognize and aspire to all of the CFA Institute Guidelines for Independent Research. Beacon Equity Research (“Beacon”) certifies that no part of the analysts' compensation was, is, or will be, directly or indirectly, related to the specific recommendation or views expressed by the analysts in the report. Beacon has directly been compensated nine thousand dollars by Onyx Consulting Group for a limited enrollment of General Metals in its research program. This report is based on data obtained from sources we believe to be reliable, but is not guaranteed as to accuracy and does not purport to be complete. As such, the report should not be construed as advice designed to meet the particular investment needs of any investor. Any opinions expressed herein are subject to change.
