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 >
Cormark Raises Target on FVI
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MATTHEW O'KEEFE, Cormark Securities Inc.
(10/06/2010)
"Fortuna Silver offers investors exposure to a high-quality, junior producer with a rapidly growing production profile. Its primary producing asset is the Caylloma silver/lead/zinc mine in Peru, which is producing a +1.8 Moz. silver per year. Its secondary asset, the San Jose silver/gold project in Mexico, is on track for production in late 2011 and should add ~3 Moz./year. In light of our price deck revision, our 2011E CFPS estimate increases to $0.40 from $0.33, while our NAVPS estimate increases to CAD$3.39 from CAD$3.01. As such, we are increasing our target to CAD$4 from CAD$3.50 and maintaining our Buy recommendation. Our target price is derived using a 1.2x multiple to our NAVPS estimate and 10x our 2011 CFPS estimate." |
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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.
More Experts
"We expect PGLC's Relief Canyon site to be meaningfully advanced in 2016." (12/16/15) Pershing Gold Corp. - Heiko Ihle, Rodman & Renshaw More >
"ICG continues to stand out as one of the most active junior exploration companies globally." (12/9/15) Integra Gold Corp. - Michael Gray, Macquarie Equity Research More >
"We are initiating coverage on NMI with a Buy rating." (12/9/15) Newmarket Gold Inc. - Heiko Ihle, Rodman & Renshaw More >
"TV's mill throughput was up 19% MOM; zinc recovery improved by 9%." (12/9/15) Trevali Mining Corp. - Joseph Gallucci, More >
"THO pays a good dividend and produces at the lowest quartile costs." (12/9/15) Tahoe Resources Inc. - Gwen Preston, Resource Maven More >