TD Newcrest Raises Target on AZC

CRAIG MILLER, TD Newcrest (12/07/2010)
"We are increasing our target price on Augusta Resource to CAD$6. (CAD$4.75 previously) and maintaining our Speculative BUY rating. Our target price is based on 1.2x our NAVPS-12% estimate weighted 100% (1.0x weighted 100% previously). Within the next 12 months, we expect the company to receive a positive Record of Decision on its Rosemont copper project and secure the remaining funds it will need to build the project. By then, the project will have been de-risked substantially."

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