ANV Set to Strengthen

BRIAN QUAST, CIBC World Markets Inc. (04/10/2011)
"ANV reported Q111 production of 20,718 oz. gold and 61,751 oz. silver, in line with our estimates. . .Production is expected to strengthen in Q211 as the impact of implementing the accelerated mining plan begins to take effect. . .the accelerated mining plan is progressing very well. . .ANV has strong leverage to gold and silver. Often overlooked, ANV's NAV leverage is 10% for a $2 (10%) move in the silver price."

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