Laurentian Bank Initiates Coverage of AZC

CHRIS CHANG, Laurentian Bank Securities (02/16/2011)
"Once AZC is in production, we forecast life-of-mine average production of 210.4 Mlb. copper and 4.7 Mlb. molybdenum at an average cash operating cost of $0.90/lb. over a 20-year mine life beginning in 2014. We are initiating research coverage of Augusta Resource. . .with life-of-mine forecast copper sales representing almost 90% of total revenues, Augusta has significant leverage to copper, which remains our preferred commodity in the base metals complex."

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