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 >
Additional Crusher and Leach Pad for CGC
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STUART MCDOUGALL, Jennings Capital Inc.
(01/26/2010)
"This morning, Capital Gold Inc. announced the successful startup of the additional crushing unit and leach pad at its El Chanate gold mine in Mexico. Since January 5, the company has been stacking on the new pad and maintaining crushing rates in the order of 14,000–18,000 tons per day (our production estimates currently assume the lower-end of that range). The company also noted that the daily gold in solution reported to the recovery plant has increased to 60,000 oz per year, putting it on track to produce 70,000 oz in calendar 2010. We are encouraged by the update and note that drilling has also resumed at the Saric property, located a short drive from the mine site. Preliminary drilling results released in early December suggest potential for additional resources there, providing the company with a second avenue for growth, given the project's proximity to the mine site. The plant at El Chanate has the capacity to produce 250,000 oz of annual metal, well above the mine's targeted production rate, so the idea would be to truck load carbon from Saric, thus reducing upfront capex and ongoing opex. Overall, we view this update as positive. Our target of $7.00/share has been adjusted for the 1-for-4 share consolidation that took effect yesterday." |
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