March 01, 2011 13:40 ET

eResearch Issues Initiating Report on Virgin Metals Inc.

TORONTO, ONTARIO--(Marketwire - March 1, 2011) - Virgin Metals Inc. (TSX VENTURE:VGM) is a junior exploration and development company with three molybdenum-copper projects, two in Mexico and one in Nevada.

Virgin Metals has refocused. In September 2010, new management was installed and immediately proclaimed an ambitious program for 2011. Later in 2010, shareholders supported the plans and invested $1.6 million into the Company. Its flagship Los Verdes project (copper-molybdenum-tungsten-silver) should get an updated review of the existing pre-feasibility study in 2011, and the Cuatro Hermanos project (copper-molybdenum) should be further explored in search of higher grade targets. 

With a market cap of $11 million, the shares are suitable for risk-tolerant investors. We rate the shares as a Speculative Buy, with a 12-monthTarget Price of $1.85 per share.

This Press Release was prepared by eResearch and was not vetted by Virgin Metals Inc. Further, the Recommendation and Target Prices contained in this Press Release and in the Initiating Report are strictly those of eResearch and, due to securities laws, are not endorsed by Virgin Metals Inc.

eResearch is a primary source for professional investment research, focused primarily on small- and mid-cap companies. Our research and analysis is of institutional quality, and has the potential for reaching millions of global investors through our extensive electronic distribution network.

Virgin Metals Inc. paid eResearch a fee to conduct research on the Company, on an Annual Continuous Coverage basis.

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Contact Information

  • eResearch
    Bob Weir, CFA
    Managing Director, Research Services
    (416) 643-7650 Ext 1