Ojective Capital Updates Coverage on Soho
Soho's series of aggressive drill programmes at Tahuehueto in northwestern Mexico have allowed the company to revise its NI 43-101 compliant mineral resource estimates for the polymetallic deposit, resulting in a substantial upgrade of the total resource. For the coming year, Soho will focus on completing a preliminary economic assessment of the project. Meanwhile, the company has just added a new silver project, Jocuixtita, in Mexico. Although developing Tahuehueto remains the company's priority, the Jocuixtita property will be the exploration focus this year as Soho continues to conserve its capital. Our revised model yields a valuation of C$0.35 per share, compared with C$0.27 as outlined in our update of July 2008. The revised valuation, which is significantly higher than the current market price, is a reflection of our gathering confidence in the Tahuehueto project following the resource upgrade.
To view the full Objective Capital report click on the link below.
http://www.sohoresources.ca/pdf/Objective_Capital_August9_2009.pdf
On behalf of the Company
Glen Sandwell
Investor Relations