ICI: Metallurgical Work Improves Gold Recovery Rates

CATHERINE GIGNAC, Northland Capital Partners (03/02/2011)
"We believe that Inter-Citic presents an excellent opportunity to invest in a potentially high‐return, low‐cost gold project in China—the world's largest gold-producing country. The share price currently reflects a discount to our development project NPV estimate, which incorporates only 52% of all resources in the mine plan, [and] the shares currently do not reflect the value for inferred resources being upgraded with infill drilling and the blue‐sky exploration potential."

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