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 >
CGC: 1Q10 Net Income Up 52%
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ADAM GRAF, Dahlman Rose & Co.
(12/15/2009)
"Net Income Up on Higher Gold Prices. Capital Gold reported that net income for the fiscal first quarter of 2010 was up by 52% compared to the same period a year ago. The average price of gold received in 1Q10 was $999 compared to $804 per ounce in 1Q09, representing a 24% increase. Gold ounces sold increased 2.8% from 11.4 million ounces to 11.7 million ounces as grades decreased to the life-of-mine grade of 0.02 oz/ton from higher grades a year prior. On a per share basis, net income rose from $0.01 to $0.02 per share. Saric Property. The Saric property is located 60 miles northeast of the El Chanate project and accessible by paved roads. Exploration work has consisted of geological mapping, geochemical mapping of rock and soils, geophysical surveys, trenching and 73 reverse circulation holes totaling 20,000 feet targeted several anomalies. The results of this drilling campaign are currently being investigated. NAV Impact. Quarterly operating results were in line with our expectations and we have made no significant changes to our forward looking assumptions. We continue to view El Chanate as a high-return asset with additional expansion potential. At current commodity prices, we estimate an NAV of US$1.88/share assuming a fully diluted share base of 203.6 million shares. We have yet to assign any value to the early stage Saric property until the company declares a resource." |
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