Going for Gold - Chesser Resources

Maurice's boot-of-the-week goes to gold, which is really starting to heat up. If you like it gold, small and risky, here's what I suggest:

Chesser Resources (CHZ.AX) is an undervalued leveraged gold option for investors who believe in the gold story and want to benefit from an uplift in the gold price.
Chesser's flagship asset is the Sisorta gold project in Turkey, where Chesser has the right to earn up to 70%. The project sits in the highly prospective Tethyan Porphyry-Epithermal Belt, which is host to 89 million ounces of gold. Previous drilling has been promising and all indications suggest the project may well host a multi-million ounce gold resource. Based on an average resource multiple of around A$60/oz, this values Chesser's shares at around $2.30 vs their current price of around $0.48.
Considering this, and taking into account Chesser's other exploration assets, a conservative share price target is $1. The time frame on this is likely to be in the medium term and I expect it to start moving when the drilling program starts in a few months and the company starts to promote the project much harder.
Couple with this the rising gold price, which is widely tipped by industry participant's to reach US$1000/oz (up from US$780/oz) and this is one stock that has oodles of upside.

Maurice's Rating (Do It!)