Analyst Ben Pirie of Atrium Research maintained a Buy rating on Magna Terra Minerals Inc, with a price target of C$0.30.
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Ben Pirie has given his Buy rating due to a combination of factors tied to the company’s latest exploration results and strategic positioning. Recent trenching at the Fossil Hill Zone confirmed significant copper mineralization, with multiple high-grade copper samples and visible native copper and sulphides encountered across all trenches, validating prior visual observations and reinforcing the geological model.
Additionally, soil sampling has outlined strong polymetallic anomalies in copper, zinc, gold, and silver that align with electromagnetic targets along a 15km trend near existing processing infrastructure, enhancing potential development economics. The extension of the Birch Zone’s copper–cobalt footprint and a robust anomaly at Restigouche, combined with an amended Gold Hunter option agreement that adds value through a larger overall consideration and higher cash component, support the maintained $0.30 target and Buy recommendation.
MTT’s price has also changed dramatically for the past six months – from C$0.100 to C$0.175, which is a 75.00% increase.