MFL: Salman's Top Pick

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�>

HAYTHAM HODALY, Salman Partners Inc. (06/05/2010)
"Minefinders' Dolores operation is set to demonstrate operational improvements in the second half of the year as ore grades, volume and duration are all expected to get stronger in the latter part of the year. Fundamentally, the company continues to trade at attractive levels as it is currently trading at 0.8x NAV (0% discount) and 8.6x 2011F cash flows, considerably lower than its peer group. As the operations show improvements in H210, the shares should begin to trade at a premium to its NAV, similar to other junior producers in its peer group. Given its locale, cash flows and long mine life, Minefinders remains a solid acquisition target to potential acquirers looking for growth. We maintain our TOP PICK recommendation and 12-month target price of CDN$16.25 per share."

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