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 >
GG: Reserves and Resources for Year-End 2010
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ANITA SONI, Credit Suisse
(02/09/2011)
"Goldcorp reports 11% organic and 23% overall reserve growth: On Feb 9, G reported reserves and resources for year-end 2010. Gold reserves were 60.1 Moz., 23% higher than the 48.8 Moz. reported the previous year. Of that increase, we estimate a very good 11% organic reserve growth. G is the first to report year-end 2010 reserves, but this result beats the 2009YE senior producer range of -2%–5% organic growth. 2010YE M&I increased 13% to 25.7 Moz.; inferred was up 5% to 20.5 Moz. Cerro Negro resources come in above our expectations. We noted earlier today that we expected Cerro Negro to provide a 50%–66% immediate uptick in the range of 4.5–5 Moz. resources for Cerro Negro with the inclusion of new zones vs. 3.0 Moz. in Andean's last resource. Cerro Negro beat expectations coming in at 5.5 Moz. with 2.1 Moz. of 2P (unchanged), 2.7Mozs M&I (up from 0.4 Moz.; we adjusted AND's reported M&I, which included reserves) and 0.7 Moz. of inferred (up from 0.5 Moz.)." |
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