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 >
Scotia Resumes Coverage of MFL
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TREVOR TURNBULL, Scotia Capital
(01/31/2011)
"We are relaunching coverage on the common shares of Minefinders Corporation Ltd. with a 1-Sector Outperform rating and a $15 one-year target price. Minefinders is very attractively priced trading at a deep 28% discount to our NAV5% of $13.36/share. We calculate an implied return of 56% to our one-year target price. We calculate the mill feasibility study expected this year increases the Dolores mine valuation by 26%. We use this in our base case NAV5%, but it seems the market is yet to embrace this scenario. With improved performance from the Phase 2 leach pad and the proposed mill option, production should reach nearly 400 Koz. Au Eq. in 2013. We consider Minefinders good value, not a value trap. The proposed mill feasibility and resource updates should propel valuation higher making the company more than a rerating story." |
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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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