Initiating Coverage: Terreno Resources (V.TNO)

Terreno Resources Corp (V.TNO) $0.11
Shares Outstanding: 56.8 million
Market Cap: $6.25 million
Cash position: ~$2.0 million
http://www. terrenoresources.com
Corporate Presentation (PDF)

Trading near it’s 52-week low, we are initiating coverage on shares of Terreno for a variety of reasons.  1) Experienced management team, 2) Institutional,  sophisticated and insider share ownership (at 0.15/share), 3) Enough cash to advance key projects and generate news flow, 4) Four excellent projects (Argentina – copper, silver, gold) in various stages of exploration, with a fifth potential company-maker (Brazil – potash, phosphate, bauxite) under negotiation.

News flow has been non-existent since August 2011, causing short-term investors to move elsewhere.  This has, in our opinion, created an undervalued opportunity for new shareholders looking to capitalize on an exploration and drill campaign which is sure to generate excitement in the coming months.  Please refer to corporate presentation in the link above for a more detailed overview of their projects.

We are inserting TNO onto our Coverage list at 0.11/share.