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 >
Cormark Raises Target on FVI
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MATTHEW O'KEEFE, Cormark Securities Inc.
(01/19/2010)
"Strong Q4 Production Results Fortuna announced Q4/09 production results from its Caylloma mine, which were ahead of our estimates. During the quarter, the mine produced 449,449 oz of silver in concentrate ahead of our estimate of 415,000 oz. The company also released 2010 production guidance, which is in line with 2009 figures. Definitive Quarter Ahead for San Jose Project In Q1/10, Fortuna is expected to pass several major milestones on the San Jose production path, including the release of a pre-feasibility study and commencement of construction. Reiterating Buy Recommendation, Increasing Target to C$3.25 Fortuna continues to prove itself as a solid mine operator with growth being fuelled by the addition of San Jose in 2011. Incorporating a lower discount rate of 7.5% on San Jose (previously 10.0%) as well as rolling our valuation forward to 2011, we are reiterating our Buy recommendation and increasing our target price to C$3.25 from C$2.40." |
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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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