Chalice Gold Mines (CHN.AX) released a research report completed by Australian independent stockbroker and financial advisory group Southern Cross Equities. The report states that Chalice is an early participant in the development of a gold industry in Eritrea, where it has highly attractive exploration ground and an advanced prospect in Koka’s 1.0moz resource.
Southern Cross Equities believes that the completion of feasibility by mid 2010 and exploration activity will maintain a great deal of interest in the stock. Thus it recommends a speculative buy at the current price of $0.57 predicting a target price of $0.73 in 12 month.
