The Gold Report
Notable Quotes
"ICG has closed a CA$2.5M flow-through placement." (12/24/15) Integra Gold Corp. - Thibaut Lepouttre, Caesars Report More >
"The exploration upside at MAG's Juanicipio project is substantial." (12/23/15) MAG Silver Corp. - Gwen Preston, Resource Maven More >
"AKG's management continues to deliver on its development milestones." (12/22/15) Asanko Gold Inc. - Nana Sangmuah, Clarus Securities More >
"We are initiating coverage on KDX with a Buy rating." (12/21/15) Klondex Mines Ltd. - Don Blyth, Paradigm Capital More >
"VIT's Eagle is a shovel-ready, fully permitted, prefinanced gold project." (12/17/15) Victoria Gold Corp. - Tom Hayes, Edison Investment Research More >
Phoenix Gold Breathes Fire into Red Lake
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ANDREW MIKITCHOOK, GMP Securities
(03/23/2009)
"Rubicon Minerals owns 100% of a high-grade discovery in the prolific Red Lake region of Ontario. The Phoenix Gold property has been returning impressive drill results since its March 2008 discovery and, in our opinion, is potentially on a similar trajectory as two other Red Lake success stories: senior gold producer, Goldcorp (GG-N), and recently acquired (September 2008) explorer Gold Eagle. Our assessment of results to date suggests impressive continuity in the F2 zone, which remains open for further expansion. In addition, the potential to identify additional high-grade shoots on the Phoenix Gold property remains. We value Rubicon based on precedent valuations attained by two successful Red Lake explorers in the expectation that ongoing exploration will firm up the F2 discovery and likely identify new high-grade shoots that will be rewarded by the market. We are assigning Rubicon a C$400mn valuation for its Phoenix Gold F2 discovery alone. We are initiating coverage of Rubicon with an Overweight rating and 12-month price target of US$2.25." |
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Under SEC rules, analysts are required to disclose their interest in securities that they cover. We strongly encourage you to contact them to understand any potential conflicts of interest they may have.
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