BTO: Better than Expected

CHRIS THOMPSON, Haywood Securities (01/25/2011)
"The release of 2011 production guidance compares favorably with our estimates. Higher-than-anticipated production compensates for higher-than-anticipated cash costs. Also, a US$30M 2011 exploration and development budget and US$48M for the continued development of La Libertad and Limon bears testimony to the company's aggressive focus on exploration and the continued development of its producing assets to deliver improved grades and resource growth."

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