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Fundamental Research Initiates Coverage on Equitas Resources (TSXV:EQT) - Video Summary Posted on

March 16, 2012 -

Vancouver, British Columbia, March 16, 2012 - Fundamental Research has initiated coverage on Equitas Resources (TSXV:EQT). Analyst Siddarth Rajeev gives the company a speculative buy rating. has produced a ""video news alert"" based on this report. If this link is not enabled, please visit and enter ""Equitas"" in the search box.
The company is focused on its flagship property, the Day Copper-Gold Porphyry project in north-central British Columbia. The project, located about 380 kilometres northwest of Price George, covers approximately 7,119 hectares, and consists of 5 historical showings. Just 55 kilometres north of the Day project you'll find the Kemess Mines operated by AuRico Gold
Originally discovered and drilled by Falconbridge in the early 70's, historic drilling intercepted as high as 0.67% copper, and 0.93 grams per tonne gold, over 58.83 metres, as well as 0.54% copper, and 0.75 grams per tonne gold over 57 metres.
Fundamental estimates that ""Based on historic drilling assays, the Day and Porcupine area of the project could potentially contain 137 million pounds copper equivalent, grading 0.60%. The project has good potential to establish a NI 43-101 compliant resource and expand the resource upon further exploration work on the project.""
In September 2011, the company closed a $2.26 million financing by issuing 15.06 million units at a price of $0.15. Chinese producer, Zijin Mining Group invested $1.35 million, through their wholly-owned subsidiary, Yield Gold Group. Fundamental notes that Zijin trades on the Hong Kong Exchange and has a market cap of approximately $15 billion USD, claiming to be the largest gold producer in China, and the third largest copper producer.
Fundamental believes ""The Zijin investment is a significant development as it indicates Zijin's confidence in Equitas' assets and its management team.""
Equitas' management has initiated plans for a comprehensive exploration drilling program to start in the 3rd quarter of 2012.
Given that the Day property has no NI 43-101 compliant resource estimate, and that Fundamental's in house estimate is highly preliminary and speculative, Fundamental has not assigned a valuation or rating at this time.
The company currently trades at $0.095, and with 51 million shares outstanding, it is capitalized at $5 million.
For more information, please visit the company's website, or call Matt Sroka at 604-219-2140 or email
You can also obtain a copy of the Fundamental research report at is a multimedia company that provides a combined solution for creating and hosting financial video content, and distributing it across multiple platforms to investors and financial professionals. specializes in producing three minute videos based on news releases and research reports.
Barry Morgan, CFO

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Source: InvestmentPitch via Thomson Reuters ONE


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