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Analysts have flagged this precious metals stock for growth

Analysts have flagged mineral sands miner and processor Mineral Deposits Limited (ASX: MDL) as a stock with a “flawless balance sheet” and good growth potential. 

Mineral Deposits opened up 1% at $1.16 today, the share price has been on a steady incline in the last 12 months, up more than 60% from just 46c a share at the same time last year. 

Mineral Deposits operates mining businesses through its 50% joint venture interests in Tizir Limited – which focuses on mineral sands resources in Grand Cote Projects in Senegal, West Africa, and an ilmenite upgrading facility in Tyssedal, Norway. 

With a market cap of around $226 million, Mineral Deposits is still well-within small cap territory, but analysts have forecast a 100% expected annual growth in earnings – well above the market average. 

Mineral Deposits will be one to watch when the company releases its annual report and FY17 results on February 21 after an update on January 24 which saw the company outline its growth strategies for major projects deeming itself “well-positioned” to generate long-term value for shareholders. 

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Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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