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A case in point is Capricorn Metals (ASX: CMM), an emerging WA gold stock which has featured in this column based on its plans to breathe life into the 650,000oz Karlawinda gold project in the Pilbara as a potential 100,000ozpa open pit producer.
Within days of an initial batch of results being released from its maiden drilling program, which demonstrated the potential to rapidly expand the current 650,000oz resource, at least two research notes were available to help investors make an assessment of the Capricorn story.
First off the blocks was respected Euroz Securities research analyst Greg Chessell, with a Speculative Buy recommendation and 18c price target. Chessell says the initial drilling has confirmed extensions of the mineralisation within the $1600 pit shell modelled by the previous owner of the asset, Independence Group.
“We continue to like CMM as a potential development story that should unfold over the next 6-12 months,” Chessell wrote in the firm’s Weekly Informer, noting that the initial results “auger well” for a potential resource upgrade.  
Chessell added that upcoming catalysts, including further drill results, an upgraded resource and scoping study, were likely to see his valuation increased.
Next off the block was equities research outfit Gordon Capital Research Pty Ltd, whose analyst Stuart Glazebrook valued Capricorn at 26c-a-share (or $103 million).
“At the Bibra gold project, Capricorn is looking to process 2.5Mtpa to produce 80-100kozpa at an all-in sustaining cost of A$858/oz for at least 7 years,” Glazebrook said.
“Amid the current bleak landscape for Australian resource companies, it is encouraging that some greenshoots are finally emerging. Interest in the Australian gold sector is also increasing despite price concerns for other commodities.
“Investors seeking near-term production opportunities with plenty of resource expansion potential and exploration upside should consider Capricorn Metals.
“With the right location, right resource and right team in place, Karlawinda is going for gold.”

http://resourcesrisingstars.com.au/infopage/8224