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 >
CRK's Cosmo
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MIKE KOZAK, Cormark Securities Inc.
(01/13/2011)
"In an attempt to finalize mining permits at the International open pit in the Pine Creek North area, Crocodile Gold continued to work with several government agencies during the quarter. At the Cosmo open pit, the company is ready to begin dewatering once final discharge permits approval is given (expected imminently). Throughout Q410, CRK completed 140m of underground development at Cosmo and focused on developing and installing the required underground infrastructure, including electrical and water reticulation. This work brought total underground development for the year to 562m. The development and production contract for the mine has been put out to tender and is expected to be awarded in Q111. Valuation: As mentioned in previous notes, we believe that the key to Crocodile Gold is the Cosmo Deeps mine that is currently under development. . .the startup will have significant impact on the company both in annual production and lowered operating costs. We anticipate Crocodile will begin production stoping in mid-2011, with a ramp-up period lasting 6–12 months thereafter. Currently, CRK is trading substantially below its intrinsic value at 0.62x NAVPS. We expect that upon Cosmo startup, Crocodile Gold should begin to trade more in line with its gold producer peers, garner a premium to NAVPS and trend up toward our target price." |
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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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