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 >
Canaccord Raises Target on Canada Lithium
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ERIC ZAUNSCHERB, Canaccord Genuity
(03/08/2010)
"Canada Lithium has announced a significant increase in resources for the wholly owned Quebec Lithium project near Val d'Or, Quebec. The historic (non-compliant) resource of 15 million tons grading 1.14% Li2O has been upgraded through extensive drilling to include 31.6 million tons measured and indicated grading 1.11% Li2O, plus 38.9 million tons inferred grading 1.12% Li2O. With the sizeable increase in resource comes an attendant increase in valuation that positively impacts our target price. . .our project NAV estimate rises to C$190 million, or C$1.29 per share, from C$119 million, or C$0.82 per share. We apply a 0.7x target project multiple to generate a price target of C$1.00, increased from C$0.70. The 104% projected return continues to justify a SPECULATIVE BUY rating. Canada Lithium is trading at 0.3x project and corporate NAV. The prefeasibility study, expected at the end of March, should be an important price catalyst." |
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