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 >
CGC Brightens Its Universe with Orion
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STUART MCDOUGALL, Jennings Capital Inc.
(08/17/2010)
"The company's sole-producing asset, El Chanate, has been profitable ever since commercial operations began on August 1, 2007. As of October 1, 2009, Proven and Probable Reserves stood at 70.6 Mt. grading 0.66 g/t gold, sufficient to support current production rates for 12 years. We see production increasing from 56 Koz. in FY10 to 67 Koz. in FY11, at a total cash cost of $431/oz., net of silver credits. On August 2, 2010, CGC successfully completed a merger with Nayarit Gold. . .the merger adds near-term production growth in the form of the advanced Orion gold/silver project in Nayarit State. In February 2010, SRK Consulting concluded that Orion's Animas/Del Norte deposit could support an underground mining operation to produce 106 Koz. gold and 10 Moz. silver over five years, at an average life-of-mine cash cost of $320/oz. gold eq. Orion also provides untested blue sky in the form of numerous epithermal targets and historic mines in a metallogenic province renowned for its mineral prolificacy. We are resuming coverage of CGC with a BUY recommendation and 12-month target of C$5.75/share." |
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