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 >
Sandfire Raises Target on RBY
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CATHERINE GIGNAC, Northland Capital Partners
(10/27/2009)
Recent $86.3 M bought deal at 2.8x March price. Two bought deals (Oct. $4.55/sh*; Mar. $1.60/sh) and $16 million warrant exercise raised $142.3 million this year. Drill program increased by 50% for 2010. Justified by encouraging wide-spaced drill results this year, continuity and scale will be tested with 120,000 m in 2010. Senior gold producers could pay US$200/oz. The $1.5 billion acquisition of Gold Eagle last fall highlights the shortage of well-located, advanced projects. Raising target to $6.00/sh from $5.00; 1.05x NAV. Market multiple of US$200 applied to 5.0 M oz in potential resources ($4.98/sh), plus cash gives NAV of $5.67/share. |
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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.
More Experts
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