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 >
Macquarie Raises Target on DGC
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PIERRE VAILLANCOURT, Macquarie Securities
(12/18/2009)
"Detour Gold reported assay results for an additional 41 holes totaling 15,205m from its 2009 infill diamond drilling program at the Detour Lake project in northern Ontario. The 2009 program is now complete with 101,074m of drilling (242 holes) to nearly finish the 40mx40m drill spacing up to section 18,000E, at the west end of Calcite zone. Good continuity of the gold mineralization. Results from 25 infill holes completed in the area of the former open pit continued to show good continuity of the gold mineralization in the core of the mineralized corridor. . . Confirmation of continuity in mineralization in the Gap and Calcite zones. To the west of the former open pit area, in the Gap zone, results from seven infill holes confirmed the continuity of the gold mineralization. In the Calcite Zone, results from nine infill holes confirmed the gold mineralization encountered in prior holes. We are raising our price target from C$15 to C$21 to account for a valuation which reflects the recent financing of C$275m at C$14.25/sh (19.3m shares issued) and the higher gold price environment. Under the current gold price ($1,100/oz), our NAV5% is C$26.77, compared to our previous NAV5% estimate of C$21.14 , based on a $1,000/oz gold price and accounting for dilution of 20.8m shares at $12/sh. Our target reflects a 22% discount to our NAV at $1,100/oz. We maintain our Outperform rating. With the equity financing complete, we anticipate a re-rating of the stock as the project reaches key milestones." |
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