RE: RE...FRR, GGP, WSBN12 Jan 2019 12:55
Net effect is that the share price could be free to climb on the current expected fast improving news flow.
When we updated our research coverage of Wishbone Gold in November 2018, we gave the stock a renewed Conviction Buy stance and a target price based on 8 times 2020 profits to determine a first target price of 0.589p. It now looks as though the developments that we had been expecting are beginning to happen in a timely fashion. Accordingly, with confidence in management delivery increasing and set against the current tiny market cap just £3m, we believe that investors are now positioned at the very beginning of a company making story. With management holding a large stake in the company (one of the key criterion for our small cap calls going forward) Wishbone Gold is to be included in our Top 10 Picks for 2019