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 >
Clarus Securities Initiates Coverage of CSI
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LAURIE CURTIS, Clarus Securities Inc.
(01/27/2011)
"Colossus controls one of the highest-grade precious metal deposits in Latin America. By JVing the flagship COOMIGASP project, Colossus has created a working model for community Cooperation, which bodes well for the equitable development of the project. The company has embarked on an aggressive but staged underground pre-development of the orebody, completion of which is anticipated by Q212. This underground development will provide mine access, geotechnical data and also facilitate underground drill stations for grade control drilling and delineation of the orebody. This program will derisk perceived issues with ground control and close-spaced drilling will provide the necessary confidence to complete mine planning. The 25,000m underground drilling program to be carried out Q311 at a high density (15m–20m sections) will provide the necessary level of confidence for the deposit grade, which together with throughput and recovery will drive the mine model. Other than potential geotechnical challenges with the carbonaceous host to the ore deposit, we believe the Serra Pelada project will provide a high rate of return; the upside being improved recoveries, likely additional discovery of zones of bonanza grades and the potential for additional discoveries within the landholdings. We initiate coverage with a SPECULATIVE BUY rating and a $10.50 target price. Our target price is derived from a discounted cash flow valuation for the Serra Pelada project based on our calculation of an Au Eq. mineable ounce profile of 3.6 Moz. (2.7 Moz. attributable)." |
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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.
More Experts
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