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 >
Detour Lake Expands
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PIERRE VAILLANCOURT, Macquarie Securities
(02/01/2011)
"The total resource is now over 20 Moz. Detour Gold released an updated reserve and resource estimate for its Detour Lake gold project. Based on a cut-off grade of 0.5 g/t (US$850/oz. gold), P&P reserves increased 31% to 14.9 Moz. from 11.4 Moz. Total M&I resources increased to 20.5 Moz. from 17.8 Moz. Slightly higher grade and strip ratio. The revised grade has improved slightly to 1.03 g/t from 1.02 g/t, but the strip ratio has increased to 3.9:1 from 3.3:1, mainly due to insufficient drilling in the west end of the pit. Construction costs and the development timeline remain in line with previous guidance, and the mine life has increased to 21 years from 16 years previously. We maintain our Outperform rating and CAD$37 target. The additional ounces provide more optionality to Detour Lake, as Canada's largest pure gold play. At this stage of the project, execution will be critical as the company develops the mine and prepares for production beginning in 2013. We emphasize the need for a long-term outlook as the project progresses through this construction phase." |
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