May 11, 2018 -- Interview with Luc Lesage of Coral Gold Resources, Ltd. (TSXV-CLH; OTC-CLHRF)
Many overlook the fact that — within the Oniva Group-run companies founded by the late Louis Wolfin and today overseen by his son David Wolfin — there is not just the best known of those, (being Avino Silver and Gold Mines, Ltd.)
Among the others is Coral Gold – and here I visit with Luc Lesage, another member of David’s team in Vancouver who is one of the largest shareholders himself of Coral. Though sporting a better-looking chart than most gold junior explorers, Coral STILL sells for slightly less than the cash it has in the bank. And as we discuss here, with a Barrick Gold royalty on Coral’s former Robertson property that could one day cause Coral’s value to rise exponentially.
Despite the fact that Coral Gold (TSXV-CLH; OTC-CLHRF) shares--unlike most gold exploration companies--has hit a 52-week high recently, I explain in this update why the markets are still grossly undervaluing the company. And with Barrick stepping up work at Robertson, we may get ratification of that sooner rather than later!
It's one thing to find promising, organic growth companies selling at less than their book value. But in the case of Coral Gold, it even has more CASH in the bank than its market cap!
And that's because this "sleeper" has already had some major success as a project generator of sorts in the prolific mining State of Nevada; recently closing on the sale of one of its key projects to Barrick Gold.
But besides the cash windfall, Coral also ended up with a sliding scale, unlimited royalty on its Robertson Project; one which could eventually be worth FAR more than the market seems to understand. Between the cash, royalty and the other exploration projects that Coral owns, its shares are as compelling STILL today as they were a year ago when they were selling for a fraction of their current level.
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