White Rock Minerals (ASX:WRM)
Professional and novice investors alike know that buying undervalued company shares is a pretty handy way to make money in the stock market.
So when multiple independent research groups identify White Rock Minerals (ASX:WRM) as a small-cap bargain, taking notice could pay off.
Independent Investment Research (IIR) published a report on the company’s Red Mountain Project earlier this year, finding that the project’s value was not yet recognised by the market.
That report has been followed up by a research report from stock broking firm DJ Carmichael. Its analysis covered WRM’s Red Mountain Project in Alaska, plus its flagship Mt Carrington Project in NSW.
While WRM is flying under the radar at just 1.3 cents per share, DJ Carmichael sees significant value in the Red Mountain Project that is not reflected in the share price, having valued that project alone at 6 cents. On top of that, the broker valued Mt Carrington at 1.9 cents per share — also above the current share price.
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Red Mountain’s significant value and resources do not seem to be fully captured in WRM’s current share price and enterprise value… this has now been backed up by two independent research groups.
Supported by rising zinc prices, it may be just a matter of time before the market starts to catch on to the potential on offer from WRM.
WRM Receives Further Backing: Sandfire Pours More Millions into Red Mountain Project
Jul 16, 2019
Sandfire obviously sees a great deal of upside in WRM's Red Mountain project, because it has just upped the ante, committing another US$1.5 million (~A$2M) on top of the $6 million for 2019, taking total exploration budget for this year to A$8 million.
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