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 >
FVI: Impressive San Jose
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BRIAN QUAST, CIBC World Markets Inc.
(11/16/2010)
". . .We recently visited the San Jose project in Mexico, and were generally impressed by what we saw. Construction is proceeding apace and Fortuna is maintaining a healthy cash balance ($45M) that will see it through until the end of construction. It is our opinion that San Jose will become a robust operation in the near future. It is also our opinion that much of the future share-price direction for Fortuna will depend on San Jose. At present, San Jose comprises ~35% of FVI's 5% NAV. The ounces contained at both Caylloma and San Jose are likely understated, but San Jose has the highest likelihood of exploration success. A portion of our optimism for exploration success and our endorsement of operational competence is somewhat reflected in the multiples used to derive our PT." |
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