Market waking up to Bardoc Gold’s potential, says Wendt

WA gold company Bardoc Gold (ASX: BDC) has risen by 48% in the past month and is up 138% since its low in April as the market develops a “better understanding” of the resource potential of its key project
16th August 2019
Resources Rising Stars

WA gold company Bardoc Gold (ASX: BDC) has risen by 48% in the past month and is up 138% since its low in April as the market develops a “better understanding” of the resource potential of its key project, according to veteran Sydney-based analyst Gavin Wendt.

“The catalyst has been the release of a series of outstanding assay results from the recently expanded +40,000m exploration drilling program at its 100%-owned 2.6Moz Bardoc Gold Project, situated 55km north of Kalgoorlie,” Wendt wrote in his widely circulated Minelife newsletter this week.

The update to his coverage was sparked by the release of some impressive drilling results from the South Castlereagh deposit, located ~3km south of the 428koz Zoroastrian deposit, including a significant broad intercept of 16.4m at 2.8g/t Au.

Bardoc has been regularly delivering impressive drilling results to the market in coming months, and is on track to update the Bardoc Resource next month. Pre-Feasibility Studies are due in Q4 2019.

“Bardoc has been part of our coverage universe since mid-2017, with the company undergoing a major corporate rejuvenation following the appointment of former key Pilbara Minerals executives Neil Biddle and John Young,” Wendt said in his note.

“Bardoc has since been at the forefront of consolidation within the Western Australian junior gold sector, implementing separate mergers with formerly-listed Aphrodite Gold and Excelsior Gold, with the aim of becoming a recognised mid-tier Australian gold producer in the Eastern Goldfields region.

“The Company now has the combined asset base, team, corporate backing and shareholder support to fast-track the development of its Bardoc Project into production at a time when the A$ gold price is setting new records.”

Wendt says current activity is focused on upgrading the current 2.6Moz gold Resource base, both by extending existing deposits and discovering entirely new ones.

“The share price gains over recent months suggest that the market is developing a better understanding of the Bardoc Project’s resource potential.

“We will continue to monitor the company’s progress with great interest, with BDC remaining firmly maintained within our coverage Portfolio.”

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