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 >
P: San Dimas' Potential
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STEVEN BUTLER, Canaccord Genuity
(10/27/2010)
"Site visit confirms San Dimas' potential—We are reiterating our BUY rating on Primero Mining following a favorable tour of its San Dimas mine in Mexico. Primero is one of our preferred junior producers based on relative valuation and excellent rerating opportunity, as the market better understands San Dimas' expansion/exploration potential and the benefit of the revised silver stream deal. Development is continuing to advance north into the new Sinaloa Graben area. We believe the exploration potential in the district is excellent, underscored by management's view of the resource potential of +3 Moz. in various sectors beyond the official inferred resource of 1.6 Moz. We remain comfortable with our assumed resource-to-reserve conversion of 90% (i.e., 1.45 Moz. Au grading 4.1 g/t and 120.2 Moz. Ag grading 340 g/t). A scoping study is due in early 2011 evaluating a potential mill expansion to 2,500 tpd. As such, we believe our assumed 20% mill expansion to 2,300 tpd could ultimately prove to be conservative." |
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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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