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 >
Laurentian Increases Target on DGC
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ERIC LEMIEUX, Laurentian Bank Securities
(02/03/2010)
"Detour Gold is continuing to advance the development of the Detour Lake project on several fronts. The project is going ahead with a full feasibility study which should further refine and optimize the elements for a large 'super pit' mining operation. With approximately US$315 million in cash, Detour is in good position to continue additional exploration works, complete the final Impact Benefits Agreements with First Nations, pre-order long-lead time milling equipment, fund detailed engineering studies and begin certain site works by summer 2010. We have increased our target price to $21.00 (previously $18.50) based on a 6% DCF analysis using a modeled open pit scenario of 264 Mt @ 1.15 g/t Au (9.5 million oz.) and CAPEX of US$ 1,180 million with a proposed production schedule for 2014 (see Action Note dated January 14, 2010). The updating of our model hinges on increased confidence in geological continuity and leverage to milling optimization. We continue to believe that the company's current share price offers an attractive entry point. Detour Gold management is developing a gold project based on solid and balanced foundations. As the Detour Lake project is set to attain a critical milestone with the feasibility study, we maintain a Buy recommendation and a target price of $21.00." |
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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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