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 >
Growing Gold-Silver Resource
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STEVE PARSONS, Wellington West Capital Markets
(03/02/2010)
"A growing, heap-leachable gold-silver resource in prolific Peruvian mining country. Sulliden Gold is a Canadian-based gold exploration company focused on advancing the 100%-owned, 80-km2 Shahuindo gold-silver project in northern Peru. With years of legal wrangling over the project’s title recently resolved, drilling has resumed and the 1.34mm-ounce indicated and inferred gold resource is poised for growth. The opportunity exists for Sulliden’s shares to re-rate as the company matures from explorer/developer to producer over the next 24 months. Shahuindo represents a low capex intensity heap-leach opportunity in proven mining country – a rare asset to be held by a junior miner. As Sulliden achieves development milestones and applies further engineering, we contend that Shahuindo’s merits should crystallize, resulting in value accretion. Maintain Buy rating, but increasing target price to $1.15 from $1.10 previously. Our target is based on a 1.2x multiple of our NAV8% estimate of $0.94/share ($0.90/share old). The application of a producer discount rate of 5% would see our NAV estimate increase to $1.18/share and our target to $1.40/share." |
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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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