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 >
DGC Signs IBA with Moose Cree First Nation
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ALEX TERENTIEW, Credit Suisse
(01/25/2011)
"Detour Gold Corp. announced today that it has signed an Impact and Benefit Agreement (IBA) with respect to the development and operation of the Detour Lake project in NE Ontario. This IBA is the last of the three required and has been anticipated for some time. . .DGC expects to have its Environmental Assessment approved by Q311, and we believe that should be easy now that all the IBAs have been signed. Given federal bureaucracy, we do not expect approval any sooner. The company has target production startup in H113, and we estimate that it [will] require the EA approval in Q311 in order to meet this. Delays until Q411 or Q112 will likely push this back, and we have assumed a Q413 startup in our model. The company currently has ~$1B in cash on hand, which we anticipate will take it to the end of 2012. In addition, we model another share issuance in Q412. We continue to rate DGC Outperform with a $40 target price." |
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