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Continental Gold Ltd.

TICKER: CNL:TSX; CGOOF:OTCQX

Continental Gold Ltd. is a well-funded, advanced-stage exploration and development company. Led by experienced mining professionals, the company is focused on becoming a leading producer of precious metals in Colombia. Continental's flagship Buriticá project is located 75km northwest of Medellín, the second-largest city in Colombi, and is readily accessible by paved highway with great infrastructure including water availability and grid power. Continental's management team has proven experience in permitting, financing and building precious metal mines in Latin America. The company is dedicated to maximizing shareholder value while working to the highest standards of community commitment and environmental defensiveness.


The information provided below is from analysts, newsletters and other contributors. Please contact the company and visit its website before making an investment decision.

Expert Comments:

(12/8/14) "Continental Gold Ltd. remains among the few reasonably well financially positioned junior developers, visibly advancing the project to a build-ready point. The recent preliminary economic assessment presented a robust, large-scale mine that underscores the quality of the Buritica mine and supports our view of the project. We maintain our Buy rating."

Gwen Preston, Resource Maven (11/19/14) "Continental Gold Ltd. released a PEA of its Buriticá project in Colombia earlier this week, which was roundly applauded for its strength and conservative approach. . .importantly, at $1K/oz gold Buriticá would still generate a 24.1% after-tax internal rate of return. . .Buriticá will almost certainly get bigger and, like I said, I think the company at $2.50 represents a good deal."

Mike Hocking, Scotia Capital (11/19/14) "Continental Gold Ltd. released a PEA for Buriticá. . .it outlined an 18-year mine life with annual production of ~271 Koz gold equivalent at all-in sustaining costs of $502/oz (including byproduct Ag); at $1,200/oz Au and $17/Ag prices, the project generates an after-tax NPV 5% of $1.1B, an internal rate of return of 31.5% and a 2.8-year payback."

Ben Kramer-Miller, Seeking Alpha (11/18/14) "Continental Gold Ltd.'s Buritica PEA looks extremely promising; shares are a potential double. . .the results are extremely strong and show very low production costs, a large annual production estimate and an achievable initial capex price tag. In spite of the risks, and even in my stress-tested scenario, I see tremendous upside going forward into production."

Jamie Spratt, Clarus Securities (11/18/14) "We expect investors will be pleased by the outcome of Continental Gold Ltd.'s preliminary economic assessment for its 7 Moz gold Buriticá project in Colombia. The PEA outlined an 18-year mine life with average production of 265 Koz gold at a total cash cost of $431/oz and an AISC of $620/oz. The study compares favorably with our previously modeled assumptions and overall project economics are compelling with an after tax IRR of 24% at a gold price of $1,000/oz."

more comments

Dan Rollins, RBC Capital Markets (11/17/14) "Continental Gold Ltd. released a positive PEA on its high-grade Buriticá project, which, in our view, outlines the strong underlying economics of the project and ability to withstand lower metal prices and/or higher operating/ capital costs. . . the PEA compares favorably to our forecast of 226 Koz gold and 275 Koz silver over 15 years at an average cash cost of $528/oz and sustaining cash cost of $655/oz. We had assumed upfront capital costs of $350M and sustaining costs of $437M. . .based on currently outlined timelines, receipt of final permits is expected in Q3/15."

Ben Kramer-Miller, Seeking Alpha (10/29/14) "Continental Gold Ltd. just announced that it has drilled a 30m hole containing 9.6 g/t gold and 47 g/t silver at the Veta Sur zone of its flagship Buriticá project. While the company has already found extensive gold mineralization there, this is a very promising drill hole that could increase the resource size and grade, which would make the project more economical. . .Continental has ample capital with which to explore its massive property while continuing to develop a mine plan thanks to a timely capital raise at ~$9/share."

The Gold Report Interview with Oliver Gross (10/27/14) "Continental Gold Ltd.'s Buriticá gold project is already world-class and could be a cornerstone asset for any large gold producer. The deposit has grown from 3 Moz in 2011 to 7 Moz in 2014, with grades higher than 9 g/t. The company intends to begin underground production in 2017 with the goal of outlining 10+ Moz. Its next big milestone will be its PEA, which should be completed by the end of this quarter. The permitting process in Colombia is challenging, but it helps that Continental's largest shareholder is one of Colombia's leading mining entrepreneurs. And the company has more than $80M in cash." More >

Jeff Killeen, CIBC World Markets (10/15/14) "Continental Gold Ltd. has released an updated set of results from the ongoing drill campaign at the company's Buritica project in Colombia. . .focused on upgrading Inferred resources to Measured and Indicated categories, as well as investigating expansion potential of the Yaragua and Veta Sur vein systems. . .today's results suggest Yaragua and Veta Sur will grow in total size given that a number of step-out holes have intercepted strong mineralization outside current resource outlines. . .and could see grades improve in the H1/15 resource update."

Ben Kramer-Miller, Seeking Alpha (10/14/14) "Continental Gold Ltd. just released the results from its recent drilling program designed to increase resources and to upgrade resources from Inferred to Measured and Indicated. . .the drill program proved to be successful, with highlight drill holes that included 7.5m with 24.2 g/t gold and 7.15m at 23.4 g/t gold. More generally, the company expanded the resource downward to 1,500m, showing investors that the Buritica project has a lot more potential than the initial resource estimate would suggest."

Jamie Spratt, Clarus Securities (10/14/14) "Continental Gold Ltd. released positive drill results from 20 infill and stepout holes in the Veta Sur and Yaragua deposits at its Buriticá project: Stepouts extended mineralization in both systems to 1,500m, extending Veta Sur by 100m and Yaragua by 200m. . .with several high-grade intercepts of 5-9m at 5–25 g/t in Veta Sur indicating potential for zones of bulk mineable mineralization. . .the stepout results demonstrate further growth potential (10–15 Moz). . .we continue to see Buriticá as among the best development opportunities in the space today given its high margins and upside in resources."

Jamie Spratt, Clarus Securities (10/7/14) "Continental Gold Ltd. has a strong balance sheet with $85M in cash ($0.67/share) to fund its ongoing 60,000m and underground development and exploration program and continue to advance the project toward a construction decision in Q4/15. We see few development opportunities in the gold space today with comparable all-in margins ($400/oz) or potential upside on resources (to 10–15 Moz)."

Joseph Fazzini, Dundee Capital Markets (10/7/14) "Continental Gold Ltd. provided a development update for its Buritica project in Colombia. The update touched on a variety of key initiatives and on all fronts, it appears the company has made good progress. With an emphasis on better understanding the deposit through cross-cuts and development ramps, we expect that the coming months will provide a variety of key data points."

The Gold Report Interview with Jeff Killeen (9/10/14) "The gold exploration stocks that are still on the radar for institutional investors are companies like Continental Gold Ltd., developers under coverage that are getting the most attention from institutional buyers." More >

Jeff Killeen, CIBC World Markets (7/29/14) "Continental Gold Ltd's Buritica drilling returns consistent, good results. . .drilling intercepted multiple gold-bearing veins in the Yaragua and Laruel zones with grades and thicknesses similar to and greater than the current resource estimate suggests. Drilling within Yaragua has confirmed mineralization along a 200 x 400m area largely within current Inferred resources. . .recent drilling suggests the global resource grade could improve as inferred resources are upgraded to Measured and Indicated."

Joseph Fazzini, Dundee Capital Markets (7/29/14) "On July 28, Continental Gold Ltd. released assay results from 12 drill holes at its 100%-owned Buriticá project. . .stepout drilling along strike encountered multiple veins interpreted as extensions of the Laurel vein system, including 1.45m grading 84 g/t Au and 7 g/t Ag. . .with drilling continuing to return strong results and a preliminary economic assessment expected by year-end, we maintain our Buy rating."

Jeff Killeen, CIBC World Markets (7/29/14) "Continental Gold Ltd. has released an update for the Buritica project drill program, which included intercepts of multiple gold-bearing veins in the Yaragua and Laruel zones with grades and thicknesses similar to and greater than the current resource estimate suggests. . .we estimate the weighted average grade for the results at roughly 9.7 g/t gold, which compares to the current global resource grade of 8.6 g/t."

Dan Rollins, RBC Capital Markets (7/28/14) "Continental Gold Ltd. provided an exploration update from its 2014 drill program on the Yaragua and Laurel vein systems at its Buriticá project. The company once again delivered high-grade intercepts with grades/thicknesses generally in line with or better than those predicted by the recent resource update."

The Energy Report Interview with Steve Palmer (7/24/14) "Continental Gold Ltd. has rebounded significantly off its lows. It owns a very high-grade gold mine in its Colombia property, so its margins should be high." More >

Joseph Fazzini, Dundee Capital Markets (7/10/14) "Continental Gold Ltd. completed additional step-out drilling at its 100%-owned Buritica project in Colombia that returned some dazzling results. Case in point, the company's headline hole, which intersected mineralization above the currently defined resource envelope and returned an impressive 2.2m grading 2,615 g/t gold and 388 g/t silver. . .between ongoing drilling, permitting updates and the upcoming PEA, Continental continues to demonstrate a variety of upcoming catalysts, all of which are expected to support our Buy rating."

Jamie Spratt, Clarus Securities (7/10/14) "Continental Gold Ltd. released positive infill and step-out drill results from 17 holes from infill and step-out drilling in the Veta Sur, Laurel and Yaragua vein systems. Drilling was successful in extending and infilling the central and northeastern areas of the Veta Sur vein system through a range of elevations. The Laurel target south of Veta Sur is emerging as a significant mineralized system with long-term potential to add a third mining front at Buritica."

Dan Rollins, RBC Capital Markets (7/9/14) "Continental Gold Ltd. provided an exploration update from its 2014 drill program on the Veta Sur, Laurel and Yaragua vein system at its Buriticá project. . .the company once again delivered high-grade intercepts with grades/thicknesses generally in line with or better than those predicted by the recent resource update."

The Gold Report Interview with Joe Foster (6/11/14) "We think Continental Gold Ltd. could become an acquisition target. Its project in Colombia looks really promising, a multimillion-ounce deposit." More >

The Gold Report Interview with Louis James (5/28/14) "Another pick along the lines of "large, high-grade discovery in hand and cashed up" is Continental Gold Ltd. Its primary asset is a large, high-grade gold discovery in Colombia. It had more than 5 Moz in all categories when we first bought, and just upped that to more than 7 Moz, and I think it may soon have a shot at the 10 Moz mark. Some investors are a little uncomfortable with Colombia, which has opened up a great deal, but remains a challenging place to work. That's not unreasonable, but the country has proven itself to be a jurisdiction where people can work if they do things right. At the end of the day, it comes down to margin; will it pay for all that's necessary and still produce a great return? Continental has the goods." More >

Joseph Fazzini, Dundee Capital Markets (5/26/14) "Our recent field review indicates that Continental Gold Ltd.'s current program is at Buritica is on track and management is making real headway in the underground access ramps and achieving its current milestones. . .few companies have the opportunities that Continental has; a system over 1km deep and 1km wide defined by 81 veins and counting provides an abundance of choices. Focusing on vein geometry and mineability is the key as the company moves the project toward feasibility and production."

Jamie Spratt, Clarus Securities (5/20/14) "It has been our long-held view that Continental Gold Ltd.'s 7 Moz Buritica project will ultimately take its place among the world's largest high-margin gold projects. The resource update last week was another significant step in that direction taking global ounces to 7 Moz at 8.67 g/t Au, an impressive growth of 30% from the last update and a more than doubling from the initial resource in September 2011."

Jeff Killeen, CIBC World Markets (5/14/14) "Continental Gold Ltd. released an updated resource estimate for its flagship Buriticá project. . .the resource update met our expectations, with total gold resources growing by 30% to 7 Moz in all categories. Total silver resources now sit at 30 Moz. . .we are encouraged by the Buriticá resource update confirming our growth expectations and we anticipate total ounces will continue to grow. . .with a strong balance sheet and potential to unlock further value at Buriticá, the company remains a top pick in the developer space."

Jeff Killeen, CIBC World Markets (5/13/14) "Continental Gold Ltd. announced it has signed formalization sub-contracts with five of seven small-scale mining associations. . .although formalization of artisanal miners around Buritica has been anticipated for some time, we view its execution as a positive event for the company. In light of recent incidents involving small-scale miners in Colombia, formalization at Buritica should remove any related overhang on Continental. . .with a strong balance sheet and a high-grade deposit, we continue to favor Continental as an investment in the junior space."

Joseph Fazzini, Dundee Capital Markets (4/28/14) "While the media reports erroneously suggested (at the time-they've since been amended) that Continental Gold Ltd. was involved, the blasts actually occurred in an underground artisanal mine located ~1 km away from the company's Veta Sur deposit. . .Continental confirmed that neither the company nor its personnel were affected by the event; all underground development and drilling are continuing without interruption. Should the company sell off today due to confusion regarding the news, we believe investors would be wise to consider building or adding to existing positions."

Jamie Spratt, Clarus Securities (4/2/14) "Continental Gold Ltd. provided an update on development and exploration progress at its Buriticá project. . .we expect resources to move toward the 7 Moz level, with a conversion of Inferred ounces to the M&I category (+~1 Moz), increasing resource confidence and supporting our current valuation, which sees 3 Moz in the mineable-ounce profile. . .Buriticá is likely to be the first large scale gold mine to be permitted in Colombia. . .the underground and directional drilling programs at Yaragua and Veta Sur are critical to the next phase of derisking and ultimate mine-planning at Buriticá."

The Gold Report Interview with Oliver Gross (4/2/14) "I like the Antioquia Department in northwest Colombia, which is still widely underexplored. This is home to Continental Gold Ltd.'s Buriticá project, one of the world's best. It already boasts 6+ Moz of over 10 g/t gold and will soon publish a new resource estimate. I believe it will ultimately contain 10+ Moz. This could be a huge cash cow. Continental Gold has a great management team with a fantastic track record, including CEO Ari Sussman and Chairman Robert Allen, the company's largest shareholder. In December 2012, Continental raised CA$86.3M, a truly outstanding amount for a junior gold company. This financing avoided dilution and enabled one of the largest gold exploration programs in South America. With a current cash balance of more than CA$100M, the company is perfectly positioned to bring Buriticá to feasibility and the final milestones in the permitting process." More >

Joseph Fazzini, Dundee Capital Markets (4/1/14) "This morning, Continental Gold Ltd. provided an update on its 100%-owned Buriticá project. . .on the Higabra Valley tunnel, good progress continues to be made and the pace of development has picked up. . .with underground drilling now commenced from Higabra, we consider this a key development as the company should now be better positioned to efficiently and effectively drill test the Yaragua and Veta Sur deposits at depth."

The Gold Report Interview with Jeff Killeen (3/26/14) "In the junior nonproducer space, my top picks include Continental Gold Ltd. It has assets with higher grades, is sufficiently financed to complete all planned work for the next year, and will continue to generate meaningful news flow over the next year, which can add value to its assets and keep the investment community engaged. Continental is expected to release an updated resource estimate for the Buriticá project in Colombia by the end of Q1/14. In addition to increasing resource confidence by upgrading Inferred ounces to the Measured and Indicated category, I anticipate there will be growth in total resources as well." More >

Jamie Spratt, Clarus Securities (3/12/14) "Continental Gold Ltd. has signed a memorandum of understanding with the Ministry of Mines and Energy, the National Mining Agency and Corantioquia, outlining a framework to formalize small-scale mining at the company's Buritica project. . .we view the successful completion of this process as a positive and an important derisking step as Continental moves through the final stage of its environmental permit amendment."

Joseph Fazzini, Dundee Capital Markets (3/12/14) "On March 11, Continental Gold Ltd. announced that it has signed a memorandum of understanding (MOU) with the Ministry of Mines and Energy, the National Mining Agency and Corantioquia (the autonomous regional corporation responsible for issuing and controlling environmental permits in Antioquia), outlining a framework to formalize small-scale mining at the company's Buriticá project. . .with the signing of the MOU, Continental has taken another step forward."

Wayne Hewgill, Tempest Funds (2/10/14) "Exploration and infill drilling in the Yaragua area of Continental Gold Corp.'s 100%-owned Buriticá project in Antioquia, Colombia, has extended zones of high-grade gold and silver mineralization outside of the currently defined resource area. . .highlights include 36.48m grading 9.4 g/t gold and 43 g/t silver, including 1.8m of 34.8 g/t gold and 61 g/t silver and 2.6m of 36.3 g/t gold and 47 g/t silver. The mineralization occurs as swarms of narrow, sub-parallel carbonate base metal gold veins, with higher grades and often wider zones occurring when a later gold rich phase overprints earlier mineralization."

Jamie Spratt, Clarus Securities (2/6/14) "Continental Gold Ltd. released positive drill results from 13 holes focused on infill and stepout drilling in the Yaragua vein system. Stepout drilling extended the Yaragua vein system; infill drilling and underground sampling continued to confirm the continuity of the Yaragua system."

Paul Harris, Colombia Gold Letter (1/30/14) "Continental Gold Corp. announced results for 11 drill holes from the Veta Sur and eastern Laurel vein systems at its Buriticá project in Antioquia, Columbia. . .all drill holes extended and infilled vein families in the Veta Sur vein system. . .high-grade intercepts included 0.7m at 26.8 g/t gold and 118 g/t silver in hole BUSY355."

Jamie Spratt, Clarus Securities (1/9/14) "Today's Continental Gold Ltd. drill results successfully infilled and vertically extended existing veins while encountering new veins outside of the Veta Sur resource block model. In our view, the company's continued success in defining new vein sets outside of the current resource model further strengthens our growth thesis which sees 10–15 Moz in the resource profile in the long term."

The Gold Report Interview with Paul Harris (1/6/14) "There are companies that have very good management in Colombia. One of the best examples is Continental Gold Ltd. . .Continental is continuing with its pre-project developments, such as driving three development tunnels to better access its Buriticá deposit, and it continues to put out good drill results. It's working on a new resource estimate and a prefeasibility study for mid-2014 and is working with the mining ministry on a program to legalize about 500 informal miners in the Buriticá area. Apparently the government is very pleased with its progress and participation to date. Continental Gold is a good company with a good management team, good financing ability and good technical ability. It's got an excellent project. It's got a high-grade, low-capex project. . .Continental Gold will put out an updated resource and prefeasibility study midyear." More >

Jamie Spratt, Clarus Securities (12/20/13) "Continental Gold Ltd. released positive drill results from 17 holes focused on infill and extension drilling at the Yaragua and San Agustin vein systems; all of the holes successfully extended and infilled Yaragua. Stepout drilling into Western Yaragua intersected vein sets up to 200m to the west of the current resource model. . .the company's continued success in defining new veins sets outside of the current resource model further strengthens our growth thesis, which sees 10–15 Moz in the resource profile in the long term."

Brian Quast, BMO Capital Markets (12/19/13) "Continental Gold Ltd. released the latest results from its 2013 drill program on the Buriticá project. . .stepout drill holes at Yaragua appear to have extended the known mineralization 200m to the west. In addition, drilling in the San Agustin area continues to return high-grade results. . .the 2013 drill program is now complete."

Joseph Fazzini, Dundee Capital Markets (12/19/13) "Continental Gold Ltd. has completed over 50,000m of drilling subsequent to November 2012, which will be used to update the current total mineral inventory of 5.4 Moz Au plus 29 Moz Ag. . .we expect to see the updated resource in Q1/14 and envision the combined Measured and Indicated and Inferred resource to increase to around 6–6.5 Moz Au, hence, our Buy rating and $6.50 price target."

George Albino, GMP Securities (12/19/13) "Continental Gold Ltd.'s consistently positive drilling results that have seen some higher grades and thicknesses as well as extensions of high-grade veins continue to paint a good picture for the forthcoming updated resource estimate [in terms of] potential to redefine higher-grade areas [and] upgrade mineralization to higher confidence and an overall increase in the resource. . .we maintain our Buy recommendation."

Joseph Fazzini, Dundee Capital Markets (11/28/13) "To set the record straight, the Colombian government (not Continental Gold Ltd.) is moving forward with intentions to stamp out unsafe, illegal and environmentally destructive mining. . .as we view Buritica as the exemplar for environmentally responsible mining, we see the government's actions as a further endorsement of the company's objectives and expect the reduction of illegal mining in Colombia to benefit the Buritica project over time. . .with a top-notch project and a rock-solid balance sheet (+$130M in cash, no debt), we believe that CNL is well positioned to continue creating value for shareholders over time."

Joseph Fazzini, Dundee Capital Markets (10/31/13) "Continental Gold Ltd. announced the results of new drilling from its 100%-owned Buriticá project in Colombia. In targeting the Veta Sur system, Continental noted that all drill holes were successful in extending the numerous subvertical vein sets to the north, south, to surface and to depth below the currently defined resource envelope. . .Buriticá stands apart given that it brings with it the combination of high-grade gold and silver, a sizeable resource base, significant resource growth potential, a palatable development capex budget and gravity-assisted mining. . .we regard Buriticá to be one of the best precious metal development projects globally."

George Albino, GMP Securities (10/30/13) "Continental Gold Ltd. announced further drilling results from its ongoing phase 4 program at its Buriticá project. . .assays from a total of 13 diamond drill holes into the Veta Sur vein systems were released and all successfully extended and in-filled veins in the system. . .the visibly growing resource makes the goal of a 10 Moz resource by early 2015 an attainable goal in our view."

Mike Hocking, Scotia Capital (10/30/13) "Continental Gold Ltd. released drill results from 13 holes, as well as surface and underground sampling from the Veta Sur and La Estera zones. The drilling appears to have expanded the northeast-southwest trending Veta Sur system to the northwest, southeast and at depth with a number of narrow and high-grade intercepts outside of the current resource block model. . .we maintain our Sector Outperform rating."

Daniel Earle, TD Securities (10/30/13) "Continental Gold Ltd. announced results for 13 new drill holes at its Buriticá project in Colombia. . .all drill holes intersected mineralization, either extending or infilling vein. . .it could be argued that fatigue has set in with respect to drilling results given the regularity and abundance of high-grade vein intercepts reported by Continental, but it would be a mistake to characterize these results as more of the same. . .the company continues to grow implied resources and we would point that this is a relatively low-cost means by which the company can add value in a market where capital is scarce."

Thom Calandra, The Calandra Report (10/28/13) "Continental Gold Ltd. is one of the highest-grade gold mines being developed in the world. Its Buriticá has replaced Gran Colombia Gold Corp.'s Segovia and El Marmato as poster babe for Colombia's resources future."

Jamie Spratt, Clarus Securities (10/4/13) "Continental Gold Ltd. released positive drill results from 28 holes and undergound sampling at the Yaragua and San Agustin vein systems. . .we continue to see Buriticá as among the highest quality development projects globally with low capital intensity, expected top quartile margins and compelling upside in resources. . .step-out hole BUUY170, drilled to the upper west of Yaragua, cut 2.7m at 830 g/t Au, including 0.5m at 4,450 g/t Au. . .we expect a resource update by Q4/13 or Q4/14 to show conversion as well as growth in global ounces."

Joseph Fazzini, Dundee Capital Markets (9/24/13) "Continental Gold Ltd. stands out with ~$130M cash on hand currently. . .the company has amassed a substantial drill inventory and we expect to see an updated resource in Q1/14 to reflect not only additional ounces but also a graduation of Inferred ounces to the Measured and Indicated category."

Jamie Spratt, Clarus Securities (9/10/13) "The size and grades at Continental Gold Ltd.'s Buritica property offer an exceptional opportunity. The Veta Sur and Yaragua deposits could support a resource of 10–15 Moz gold with continued success in defining additional resources at depth. A deposit of this size could support a production profile of up to 500 Koz/year (or more) over a ~20-year mine life, more than double our currently modeled profile of 215 Koz/year. . .this compelling upside production scenario will ultimately put the company at the top of the list of global development acquisition targets."

Henry Lazenby, Mining Weekly (9/7/13) "Continental Gold Ltd. is focused on expanding resources at its flagship Buriticá gold project, in Antioquia, Colombia, ahead of completing a prefeasibility study at the end of 2014, when a development decision would be made. . .the combined Measured and Indicated resources total 1.6 Moz gold grading 13.6 g/t and the combined Inferred resources total 3.8 Moz gold grading 8.8 g/t. . .the company is currently busy with underground exploration on three fronts, spending about $4M a month on efforts to enlarge the NI 43-101-compliant resources. . .the company has three other projects in its development pipeline—the Berlin, Dominical and Dojura projects."

Joseph Fazzini, Dundee Capital Markets (8/28/13) "Continental Gold Ltd. announced the results of eight infill and stepout holes drilled at the Veta Sur deposit at its 100%-owned Buriticá project in Colombia. . .drilling continues to demonstrate both the robust nature and growth potential of Veta Sur. Accordingly, the results provided (intercepts, not necessarily true widths) further support our view that the updated resource estimate at Buriticá (expected in Q1/14) will reflect upgraded and expanded M&I resources."

Jamie Spratt, Clarus Securities (8/28/13) "Continental Gold Ltd. released positive drill results from infill and step out drilling at Veta Sur and La Estera. . .we continue to see the company as among the highest quality developers globally with low capital intensity, expected top quartile margins and compelling remaining upside in resources from the current 5 Moz. . .the expanded footprint shows the compelling growth potential of the Veta Sur system. . .Continental remains a top pick development opportunity based on the quality of the high-grade Buritica asset, a management team that has delivered and compelling remaining exploration potential."

Morning Coffee (8/28/13) "Shares of Continental Gold Ltd. continued to move higher after announcing results for six diamond drill-holes in the Veta Sur vein system and two drill-holes in the La Estera area, as part of the company's ongoing exploration program at the Buritica project. . .all five underground drill-holes and a more deeply drilled, surface-collared hole in central Veta Sur were successful in infilling the deposit, extending existing veins and encountering new veins outside of the current resource envelope. Among the highlight intersections was 28.4m of 20.5 g/t gold and 135 g/t silver."

The Gold Report Interview with Chris Mancini (8/19/13) "Continental Gold Ltd. can weather the storm. It has a lot of cash. The company can get its project in Colombia to the PEA or prefeasibility stage with the cash on its balance sheet. Once that's done, it will be able to show it has a very good, very high-grade gold deposit, which shouldn't require a large upfront capital expenditure. After it demonstrates the economics of the deposit through a prefeasibility study, it could be bought by a major." More >

Jamie Spratt, Clarus Securities (8/15/13) "Continental Gold Ltd. remains a top pick in the developer space. . .relatively low-capital intensity and expected high margins will allow Buriticà to remain a financeable and profitable project through any reasonable gold price cycle. . .Buriticà will be a mine unlike many of the company's development peers."

Joseph Fazzini, Dundee Capital Markets (7/10/13) "Continental Gold Ltd. announced the results of 6 holes from its 100%-owned Buriticá project in Colombia; in short, the new holes (four from Veta Sur underground and two at La Estera from surface) continue to demonstrate high-grade mineralization from within and beyond the currently defined resource envelope. Accordingly, these results further reinforce our view that Buriticá remains well-positioned to both upgrade and expand the existing Measured and Indicated base in the next resource update, which is expected in H1/14."

Morning Coffee (7/10/13) "Shares of Continental Gold Ltd. moved higher after the company announced results for the initial four underground diamond drill holes from the Veta Sur vein system and two additional surface holes from the La Estera vein system, as part of the company's ongoing exploration program at the Buriticá project. . .the most recent results included an intersection of 16.7m grading 58.7 g/t gold and 233 g/t silver in the Veta Sur system and the extension of the La Estera system."

Jamie Spratt, Clarus Securities (6/25/13) "Continental Gold Ltd. continues to make good progress in advancing Buritica with engineering advancing and the overall development budget in-line so far; we estimate that Buritica's world-class 5 Moz deposit at 11.7 g/t Au has the potential to produce 200+ Koz/year for a relatively low capital intensity of ~$400M at top quartile margins with estimated cash costs <$500/oz. We believe that these features of the Buritica deposit will make it a profitable commercial project throughout the gold commodity cycle."

Joseph Fazzini, Dundee Capital Markets (5/31/13) "Continental Gold Ltd.'s management team is composed of a top-notch group of professionals who bring the right combination of skills to the table. Hence, we remain confident that no fatal flaws stand in the way of Buritica becoming a mine of merit in the years to come and accordingly, we reiterate our Buy rating."

Jamie Spratt, Clarus Securities (5/30/13) "We continue to believe that the Colombian government may want to use Continental Gold Ltd.'s Buritica gold project as the poster child for permitting the first large-scale mine in Colombia given the positive environmental and social features of the project. . .Buritica appears to be on track to be the first large-scale gold mine in Colombia by 2016. . .we continue to put Buritica and company management at the top of our list in the universe of top quality development stories we see globally. . .we reiterate our Speculative Buy."

Jamie Spratt, Clarus Securities (5/16/13) "We have no doubt that Buriticá will ultimately take its place among the world's top quality projects; in our view, Buriticá has several features which we believe will make it a profitable commercial project throughout the cycle: our estimates suggest that total cash costs of <$500/oz should provide robust margins in a weaker gold price environment. . .our model also shows that the current share price implies a gold price of about $1,150/oz. . .we also believe that exploration upside at the project is likely to take global ounces to the 10 Moz mark."

The Gold Report Interview with Paul Harris (5/10/13) "Continental Gold Ltd.'s Buriticá could be producing 200 Koz a year for 20 years. It will be a cash cow for Continental Gold or whichever major eventually takes it over. . .Ari Sussman had great success at Colossus Minerals and is repeating that at Continental. At both companies he brought in the best technical expertise he could find, which increases the chance for success and successful execution. " More >

Joseph Fazzini, Dundee Capital Markets (4/24/13) "Assets like Continental Gold Ltd.'s Buritica are few and far between, and recent volatility creates the opportunity to own something special. . . we expect explorers, underfunded developers and high-cost producers will continue to bear the brunt as investors reallocate capital to higher quality investment opportunities. As we consider Continental's 100%-owned Buritica to be one of the best undeveloped gold projects in the world today, we expect the company to ultimately benefit from this reallocation."

Jamie Spratt, Clarus Securities (4/12/13) "Continental Gold Ltd. released positive results from ongoing metallurgical test work at its 5.4 Moz Buritica project in Colombia, achieving average Au recoveries ranging from 90–96%. . .our analysis of the grade distribution of resources in the principal veins suggests significant potential for the project in the first 3–6 years of mine life. . .with Buritica as a world-class development project, compelling exploration upside and a management team that has delivered, the company remains a top pick in the space. . .we maintain our Speculative Buy rating."

Craig Stanley, Stifel Nicolaus (4/11/13) "Continental Gold Ltd. announced results from metallurgical test work performed on samples from its 100%-owned Buriticà project. . .gravity concentration followed by cyanidation of gravity tails has been selected as the preferred recovery process and will be incorporated in the prefeasibility study scheduled for H2/14. . .the gravity plus cyanidation process yielded gold recoveries averaging 95.4% and silver recoveries of 48.6%."

Gary Baschuk, Raymond James (4/4/13) "We view the release of Continental Gold Ltd.'s drill results from its 100%-owned Buritica project in Colombia as positive—the precious metals system is large, it's getting larger, and we believe there remain several areas for further exploration. . .along with an updated resource estimate expected in H2/13, we expect the company to submit the final modifications to the existing environmental impact assesment in H2/13 with approval expected by the end of 2014. . .we currently model production beginning in H2/15."

Jamie Spratt, Clarus Securities (4/3/13) "Continental Gold Ltd. released positive drill results from 11 holes and near-surface sampling in the La Estera and Yaragua areas at its 5 Moz Buriticà project. With a well-funded balance sheet, compelling exploration upside and a management team that has delivered, we believe that the company remains one of the select top-quality gold names that investors should be tucking away in the current environment."

Raymond James (4/2/13) "Continental Gold Ltd. continues to advance and derisk the high-grade, 100%-owned Buriticá deposit in Colombia. With ~$160M cash, we believe the company is well positioned to carry out plans for 2013 that include 95,000m of drilling, underground delineation and exploration along strike and at depth of the Yaragua and Veta Sur vein systems plus testing the newly discovered La Estera zone, as well as advancing the two underground adits and permitting; we believe the deposit has significant growth potential."

The Gold Report Interview with Joachim Berlenbach (3/11/13) "I like Continental Gold Ltd. in Colombia. It has a hydrothermal deposit with strong exploration upside. The latest drill results support our view that it is open at strike and there seem to be a few parallel structures adjacent to it. Everything being equal, you want to be in the high-grade deposits. Continental Gold is one of those deposits. The company is well financed and has cash on the balance sheet. Management is well respected; we know the team and adviser Greg Hall well. . .Continental Gold has to do in-fill drilling and move the Inferred resource into Measured and Indicated. It is important for the company to issue a prefeasibility study and a feasibility plan and get into production. . .deposits like Continental Gold—high-grade deposits, close to infrastructure—are scarce and that makes them potential takeover targets." More >

George Albino, GMP Securities (3/4/13) "Continental Gold Ltd. announced sampling results from four undrilled targets at its Buritica project in Colombia. . .during our last site visit the company highlighted Obispo and Pinguro as significant new areas—these results confirm the mineral potential of these new systems. Both systems are extensive, with multiple structures and significant strike extents. . .sampling has returned very good grades, while the geochemical signature is similar to known zones at Buritica with strong trace elements typical of this high-grade vein system. . .we maintain our Buy recommendation and CA$14.75 target."

George Albino, GMP Securities (2/12/13) "Continental Gold Ltd. announced the results of 10 drill holes completed in the Yaragua vein system, including 2 holes intersecting the new San Agustin vein system. . .the results are consistent with our view of additional significant vein systems outside of the current Yaragua and Veta Sur vein systems. . .encountering good vein intercepts in these first tests is clearly positive and gives us more confidence that San Agustin is likely to contribute to further resource growth. . .we maintain our Buy recommendation."

Gary Baschuk, Raymond James (2/12/13) "Continental Gold Ltd. released drill results from the 100%-owned Buriticá project in Colombia. . .we view the news as positive; drilling at Buriticá continues to extend and delineate the known veins with grades and widths similar to the current resource model and also discover new veins. With ~$168M in cash and an $80M budget for 2013, we believe the company is poised for significant development on several fronts: resource expansion, adit and road construction, and permitting. . .our target price is $11.25."

Jamie Spratt, Clarus Securities (2/12/13) "Continental Gold Ltd. released positive drill results from 10 holes at its 5 Moz Buriticá project. . .we are encouraged by yet another discovery providing an additional leg of potential resource growth at Buriticá. In our view, the company's ongoing success in defining new systems at Buriticá including San Agustin to the north and La Estera to the south increases the odds of production exceeding the 225 Koz/year currently in our modeled estimates, underpinning the potential for further upside in valuation."

George Albino, GMP Securities (1/28/13) "We recently returned from a visit to Continental Gold Ltd.'s flagship Buriticá project in Antioquia, Colombia. . .we come back expecting the already impressive resource (5.9 Moz gold at 9.85 g/t) to continue growing. We also observed progress with underground development and advances in project concept that we expect to lead to initial production in 2016. . .we expect that infill/close-in stepout drilling of the Yaragua and Veta Sur vein systems will be sufficient to take the current resource to the ±6 Moz we model in our discounted cash-flow valuation; beyond that, growth at depth is a virtual certainty, in our opinion."

Jamie Spratt, Clarus Securities (1/16/13) "Continental Gold Ltd. released positive drill results from 23 holes at its 5 Moz Buritica project in Colombia. Results extended mineralization in both the Yaragua and Veta Sur systems while in-fill drilling demonstrated several intercepts of wide high-grade mineralization with thicknesses above 20m. . .in our view, continued extension drilling at Buritica provides further confirmation that global ounces there are likely to continue to grow well beyond the 5.4 Moz contained in the current resource."

Jamie Spratt, Clarus Securities (1/15/13) "Continental Gold Ltd. Reported on 23 drill holes from Yaragua and Veta Sur. . .drilling in the Yaragua vein system resulted in extensions to several vein sets in addition to new veins outside the current resource model. . .drilling in the Veta Sur vein system extended several vein sets and again added new veins outside the model. . .notable in the drilling for both were several intercepts of wide high-grade mineralization with thicknesses above 20m. . .we view the results positively."

Gary Baschuk, Raymond James (1/15/13) "Continental Gold Ltd. released results from 23 drill holes as part of its 2013 drill program at its 100%-owned Buritica project. . .we view the news as positive. . .we believe the current high-grade resource estimate, 5.4 Moz Au at 9.5 g/t, 18.8 Moz Ag at 34 g/t and 212 Mlb zinc at 0.5% has the potential to expand. . .additionally, we estimate the company has ~$180M cash, a significant amount for a firm in the development stage."

George Albino, GMP Securities (1/15/13) "Continental Gold Ltd. provided an update on drilling completed at its Buriticá project in Colombia; Continental released the results of 23 diamond drill holes from the Yaragua and Veta Sur vein systems. . .the drilling results continue to add drilling density to the resource model in addition to extending Yaragua and Veta Sur both laterally and vertically. . .further deep drilling should be completed later this year from the tunnel access currently underway and we believe has the potential to materially add to Buriticá’s resource base. Further sources of potential resource increases lie in the La Estera, La Mano and recently announced San Agustin zones."

Craig Stanley, Stifel Nicolaus (1/14/13) "Continental Gold Ltd.'s Buriticá continues to boast considerable exploration potential and the company is well-funded with approximately $180M in working capital. . .a feasibility study is scheduled for 2014, with management now guiding commencement of production in 2016."

Gary Baschuk, Raymond James (1/10/13) "Continental Gold Ltd. continues to advance the high-grade Buriticá project with underground development and an extensive exploration drill program for 2013. . .we believe the Buriticá project is the most advanced, publically owned development gold project in Colombia. . .and expect underground production to commence in H2/15E and ramp up to over 275 Koz/year Au eq."

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