Murphy Analytics (MA) has initiated coverage on Stronghold Metals Inc. (OTCQX:SDMTF) (TSX-V:Z) (Frankfurt:E9X.F). The Initiation Report contains a detailed discussion of Stronghold’s current and planned business operations, particularly at the Company’s Eagle Mountain Gold Project. The report also addresses gold market dynamics, macroeconomic data and indicators, financial results, potential cash flows, and risks. The Initiation Report is available at: http://www.murphyanalytics.com/uploads/Stronghold_Initiation.pdf.
Analyst Patrick J. Murphy, CFA notes in the report: “In what seems to be a telling indicator of the opportunity at Eagle Mountain, nearly the entire team that worked the project for IAMGOLD came to work for Stronghold after Stronghold’s acquisition of the project. It seems reasonable to conclude that this operational and management continuity is a positive signal with regard to Stronghold’s estimates for resource, production cost and timing, and perhaps even the project’s blue sky potential…This also implies a vote of confidence in Stronghold’s management team and their ability to take the project from exploration to production.”
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