White Rock Minerals (ASX: WRM)
Having recently announced a promising JORC Mineral Resource Estimate at its highly prospective Red Mountain Project in Alaska, it could be time to put one ASX listed zinc-gold explorer on the radar.
White Rock Minerals (ASX:WRM) Red Mountain Project is an advanced VMS project rich in high-grade zinc and silver deposits and it looks to be capturing attention at just the right time.
A recent research report conducted by Independent Investment Research (IIR) concluded that WRM’s valuation and positioning among its peers has been fundamentally impacted by its strategic acquisition of Red Mountain last year.
In fact WRM’s superior resource size and zinc equivalent grade seem to have yet been captured in the company’s current enterprise value.
WRM seems to be significantly undervalued at its current market cap of just $13 million, and given its comparison to certain peers there looks to be significant blue sky ahead.
Interestingly, IIR’s valuation doesn’t yet take into consideration WRM’s 338,000 ounces of gold and 23 million ounces of silver at its cornerstone asset, the Mt Carrington epithermal gold-silver project in NSW, which offers excellent exposure to the AUD gold price, with additional silver and zinc upside.
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There are several key points that could boost WRM’s long-term prospects including the current sentiment surrounding zinc, as well as the sheer size and grade of the contained Resource at red Mountain.
Throw in the good work being done at Mt Carrington and there are more than enough opportunities for news flow and a potential price inflection.