Mr NoNyMoUsMr NoNyMoUsBlogging about the Canadian Economy, Commodities, Mining Stocks, Currencies and more Articles
Buy, Sell or Hold Eastmain Resources (ER:TSX)
2008-02-15 05:49:00 On February 14th /08 Laurentian Bank Securities analyst Eric Lemieux initiated coverage on Eastmain Resources .Company ProfileEastmain Resources Inc. (ER) engages in exploration and development of gold, silver, copper, nickel, and zinc deposits in Canada. ER is a strong explorer focused on the Eastmain River area of James Bay. The company is actively exploring for gold and base metal deposits within the Opinaca / La Grande sub provinces. It owns 100% of the Eau Claire gold deposit (Clearwater Project), 100% of the Eastmain gold deposit and has significant land holdings covering key geology adjacent to the Eleonore discovery.EventIn a note entitled “Exploring James bay” Lemieux explains the reasons behind his Speculative Buy Rating and $1.50 target.Takeaways From The EventLemieux’s comments on the James Bay Area -“The James Bay area may well turn into the next major gold and base metal camp in the near future. Exploration potential is a dynamic spectrum; new advancements in te... More About: Sell , Hold
Buy, Sell or Hold Bannerman Resources (BAN:TSX)
2008-02-14 05:44:00 On February 12th /08 Haywood Securites analyst Eric Zaunscherb initiated coverage on Bannerman Resources .Company ProfileBannerman Resources Limited is an emerging international uranium producer with operating projects in Namibia and Botswana and licences in Australia. The Company’s major focus is on exploring and developing uranium projects in Namibia and Botswana.EventIn a note entitled “Better’n Scorin’ a Century, Mate!” Zaunscherb explains the reasons behind his Sector Outperform Rating and $4.50 target.Takeaways From The EventZaunscherb’s comments on Uranium -“As the world continues to focus on reducing greenhouse gas emissions, the nuclear industry renaissance builds. An increasing number of former opponents to the industry have recanted and lined up in support. Spot uranium prices responded over the last few years exploding to a high of US$136 per pound in June 2007 before correcting to the US$80 per pound level. Realism has set in amongst uranium equities but we... More About: Sell , Hold
Video - Warren Buffett in Toronto, Canada on February 7, 2008
2008-02-08 20:21:00 Video - Warren Buffett in Toronto, Canada on February 7th, 2008 for the Canadian launch of Business Wire -- a corporate news release service. More About: Video
Buy, Sell or Hold Labrador Iron Mines (LIR:TSX)
2008-02-08 07:33:00 On February 6th /08 Canaccord Adams analyst Gary Lampard initiated coverage on Labrador Iron Mines Hold ings Ltd.Company ProfileLabrador Iron Mines Holdings Ltd. plans to re-activate the Schefferville iron ore project in north-western Labrador, Canada. The project includes eight separate deposits which contain historical resources of 91 million tonnes of hematite ore. Processing requirements are minimal, and transportation infrastructure is largely in place. The company expects first production in 2009.EventIn a note entitled “Initiating with a BUY; Low capital cost and historically proven iron ore” Lampard explains the reasons behind his Buy Rating and C$7.00 target.Takeaways From The EventLampard forecasts “seaborne iron ore prices to increase 35% over the next two years, and recognize[s] risks balanced to the upside from these forecasts. Chinese iron ore imports remain strong, and Australian and Brazilian production costs continue to appreciate with their currencies and with... More About: Sell
Video - Josef Schachter at the 2008 World Outlook Financial Conference
2008-02-07 06:20:00 Video - Josef Schachter at the 2008 World Outlook Financial Conference , held in Vancouver, BC on February 1st. Josef Schachter, CFA, CMA, is the principal of Schachter Asset Management Inc. He has over 35 years of experience in oil and gas investment management. Previously, from 1991 to 1996 Mr. Schachter was with Richardson Greenshields where he was a Director, Chief Market Strategist and a member of its investment policy committee. Josef is a regular commentator on BNN, CBC Newsworld's Business News as well as various radio shows. If you like this post, please take a moment to suscribe to my feed or Stumble/Digg it using the appropriate links at the bottom of this post! You can also post a link to it on relevant forums/bullboards. More About: Video
Buy, Sell or Hold Genco Resources (GGC:TSX)
2008-02-06 21:41:00 On February 5th /08 Haywood Securities analyst Andrew Kaip released an update on Genco Resources .Company ProfileGenco Resources Ltd. (GGC:TSX) is a publically traded profitable junior silver mining company. Genco's core assets are multiple mining sites including the La Guitarra Mine located in the companies wholly-owned Temascaltepec Mining District of central Mexico. This district is part of the Sierra Madre silver and gold Metallogenic Province that has historically produced some of the world's most exceptional mines. La Guitarra Mine produces precious metals from a classic epithermal vein system, part of a mineralized corridor which extends 15 kilometers in length and averages 4 kilometers in width, the corridor includes exceptionally high "bonanza" grades and multiple bulk tonnage targets. Genco is committed to both enhancing shareholder value and fully reealizing the vast potential of the Temascaltepec Mining District to create one of the preimier Silver Mining Companies in t... More About: Sell , Hold
Buy, Sell or Hold Orezone Resources (OZN:TSX)
2008-02-06 06:03:00 On February 1st /08 Canaccord Adams analyst Nicholas Campbell initiated coverage on Orezone Resources .Company ProfileOrezone is focused on exploration and development in Burkina Faso and Niger. Orezone has completed the acquisition of the remaining 60% interest in the Essakane gold project in Burkina Faso. The company is now focused on financing and developing the Essakane gold project. Orezone is also actively exploring the Bondi, Sega and Bomboré gold projects, in Burkina Faso. In Niger, exploration on the Kossa gold target, a geologic target similar to Essakane, has yielded initial encouraging results. In addition to its gold exploration program in Niger, Orezone will begin exploration of uranium permitsin 2008, likely leading to a spin out of its uranium assets in the future.EventIn a note entitled “An emerging Producer; Advancing the Largest Gold Project in Burkina Faso” Campbell explains the reasons behind his Speculative Buy recommendation – and C$2.20 target.Takeaways... More About: Sell , Hold
Don Coxe Conference Call & Video
2008-02-01 17:59:00 Don Coxe - Global Portfolio Strategist with BMO Financial Group - Conference Call For Mr. Coxe's February 1, 2008 Institutional and Client Call Click HereCheck out this video from January 3rd, 2008 where Don Coxe, Don Drummond (Senior Vice President and Chief Economist at TD Bank Financial Group) and Nick Barisheff (Bullion Management Group) give their outlook for 2008 at the Empire Club in Toronto, Canada (Register For Free) Video is approximately 28 minutes long. More About: Conference Call
Buy, Sell or Hold Dynasty Metals and Mining (DMM:TSX)
2008-01-31 17:03:00 On January 30th /08 Canaccord Adams analyst Wendell Zerb released an update on Dynasty Metals and Mining .Company ProfileDynasty Metals and Minerals Inc. is a geographically focused mineral exploration/development company with a solid portfolio of gold/silver and copper projects located in Southern Ecuador. The company currently has a gold equivalent inventory of over 6.25 million ounces. The Zaruma gold project is expected to advance to small scale production in Q2/08.EventIn a note entitled “Slight Delay at Zaruma – New Assumptions Create a Minor Target Adjustment” Zerb explains the reasons behind his Speculative Buy recommendation –and C$14.10 target.Takeaways From The EventDynasty’s Zaruma project is located in south central Ecuador and according to a press release put out on January 29th/08 by the company’s President, they are “rapidly progressing the development of our project, with production now expected to commence towards the end of the second quarter of this ... More About: Sell , Hold
Buy, Sell or Hold Corridor Resources (CDH:TSX)
2008-01-30 17:15:00 On January 28th /08 Jennings Capital analyst Gregory Chornoboy released an update on Corridor Resources .Company ProfileCorridor Resources Inc. is a junior energy Company with operations in Atlantic Canada. The Company has 2P reserves of 143 Bcf in the McCully Field in New Brunswick. Full exploitation of McCully should provide development opportunities for several years, not including multi – Tcf potential in the deeper Frederick Brook and Dawson Settlement formations. In addition, Corridor has a portfolio of high risk – high reward exploration plays both on and offshore in Prince Edward Island and Quebec.Check out Corridor’s latest presentation given by Norm Miller, President and CEO at the Mid-Winter Global Energy Conference in New York, January 28, 2008EventIn a note entitled “Corridor Announces 2008 Budget” Chornoboy explains the reasons behind his Buy recommendation – Above Average Risk rating and C$12.30 target.Takeaways From The EventOn January 24th, 2008, Corridor... More About: Sell , Hold
Buy, Sell or Hold Aurelian Resources (ARU:TSX)
2008-01-29 20:34:00 On January 29th /08 Dundee Securities analyst Mark Smith released an update on Aurelian Resources .Company ProfileAurelian Resources Inc. (TSX: ARU) focused on their wholly-owned Condor Project, consisting of approximately 95,000 hectares in south-eastern Ecuador. Fruta del Norte (FDN), their flagship epithermal gold-silver deposit, was discovered in April 2006 and has a NI 43-101 compliant initial inferred resource of 13.7 million ounces of gold (58.9 million tonnes grading 7.23 g/t gold.EventIn a note entitled “Overblown News Reports Create Buying Opportunity as Infill Drilling Continues to support the FDN Resource Model” Smith explains the reasons behind his Market Outperform – High Risk rating and C$14.00 target.Takeaways From The EventOn January 25th, 2008, a Reuters news articles reported that “Ecuador’s leftist government seized hundreds of mining concessions held by local and foreign companies as it sought to overhaul the rules for the growing sector.” However, th... More About: Sell , Hold
Buy, Sell or Hold Aurelian Resources (ARU:TSX)
2008-01-26 09:35:00 On January 24th /08 CIBC World Markets analyst Barry Cooper initiated coverage on Aurelian Resources .Company ProfileAurelian Resources Inc. (TSX: ARU) focused on their wholly-owned Condor Project, consisting of approximately 95,000 hectares in south-eastern Ecuador. Fruta del Norte (FDN), their flagship epithermal gold-silver deposit, was discovered in April 2006 and has a NI 43-101 compliant initial inferred resource of 13.7 million ounces of gold (58.9 million tonnes grading 7.23 g/t gold.EventIn a note entitled “Scarcity Has A Price And It’s Higher Than Here” Cooper explains the reasons behind his Sector Outperform – Speculative rating and $20.00 target.Takeaways From The EventCooper’s investment thesis is as follows “Aurelian holds the rights to a very largeprofitable gold deposit in an era where there are few similarities. We think that there will be the potential for multiple bidders for the company as gold producers have outgrown Mother Nature's supply capabiliti... More About: Sell , Hold
Buy, Sell or Hold Adanac Molybdenum Corp. (AUA:TSX)
2008-01-25 05:44:00 On January 10th /08 MGI Securities analyst Steve Parsons initiated coverage on Adanac Molybdenum.Company ProfileAdanac Molybdenum is a Canadian-listed development company with its principal assets in British Columbia. The company aims to become the world’s first new large scale primary producer of molybdenum in 25 years. It expects construction to commence in early 2008 with commercial production following in calendar Q1/10.EventIn a note entitled “Adanac Nursing Its Lead at Ruby Creek” Parsons explains the reasons behind his Speculative Buy recommendation and $1.40 target.Takeaways From The EventWith Adanac quickly progressing towards production, Parsons believes that the project “represents a pure molybdenum play with a head start over several other relative near-term molybdenum producers, positioning the company to benefit from a higher price deck in the early quarters of production, before a material increase insupply occurs.”Construction of the access road and associa... More About: Sell , Hold
Videos - John Embry of Sprott Asset Management & Paul Van Eeden
2008-01-23 06:43:00 Video - John Embry from Sprott Asset Management on the outlook for gold and gold stocks at the January 2008 Vancouver Resource Investment Conference Video - Paul Van Eeden on the subprime mess at the January 2008 Vancouver Resource Investment Conference More About: Videos
Don Coxe Basic Points January 2008
2008-01-21 04:38:00 January 2008 - Basic Points - The Year of the RatsFor Mr. Coxe's weekly Institutional and Client Call Click HereTo download Mr. Don Coxe's January 2008 Edition of Basic Points click here (Courtesy Victor Adair)If you like this post, please take a moment to suscribe to my feed or Stumble/Digg it using the appropriate links at the bottom of this post! You can also post a link to it on relevant forums/bullboards More About: January , January 2008
Buy, Sell or Hold Bankers Petroleum (BNK:TSXV)
2008-01-19 18:22:00 On January 18th /08 Canaccord Adams analyst Rafi Khouri released an update on Bankers Petroleum .Company ProfileBankers Petroleum is an unconventional oil & gas company with assets in Albania and the US. The company currently produces over 5,000 bopd from the Patos Marinza heavy oil play in Albania, and 4 mmcf/d from its US shale gas assets. Bankers also has approximately 400,000 acres of shale gas potential land in the US.EventIn a note entitled “A Pivotal Year” Khouri explains the reasons behind his Buy rating and $1.35 target.Takeaways From The EventWith Mr. Badwi positioned to take over as CEO on February 1st, Khouri believes 2008“will be pivotal for investors in this heavy oil play.”So who is Mr. Abdel F. (Abby) Badwi?Mr. Badwi is an international energy executive and professional geologist with more than 35 years experience in the exploration, development and production of oil and gas fields in North America, South America, Asia and the Middle East. From 2005 until ... More About: Sell , Hold
Buy, Sell or Hold Grand Banks Energy (GBE:TSXV)
2008-01-18 04:53:00 On January 16th /08 PI Financial analyst Geoff Ready initiated coverage on Grand Banks Energy .Company ProfileGrand Banks Energy Corp. (V-GBE) is a Calgary, Alberta based junior oil & gas company with operations in Alberta, Saskatchewan, and Manitoba. Grand Banks will focus its future capital expenditures on the high netback light oil opportunities in SE Saskatchewan and Manitoba.EventIn a note entitled “Williston Basin Light Oil Opportunity” Ready explains the reasons behind his Buy rating and $2.15 target.Takeaways From The EventGrand Banks currently produces about 1,400 boe/d with a 55% weighting to light oil and natural gas liquids. “The Tower Creek 2-21 Leduc well was tied in this past summer and currently produces over 22 MMcf/d (gross) or about 500 boe/d net to Grand Banks. Most of the oil production is light and produces from either the Midale formation in Kingsford (SE Saskatchewan) or the Torquay formation in Sinclair (Manitoba).”Multi-stage fracturing of the To... More About: Sell , Hold
Buy, Sell or Hold Banro Corporation (BAA:TSX)
2008-01-17 08:58:00 On January 16th /08 Haywood analyst Eric Zaunscherb highlighted Banro Corporation as one of his top picks for 2008. Company ProfileBanro is a Canadian-based gold exploration company with four wholly-owned properties along a major gold belt of the Democratic Republic of the Congo (DRC). The Company has to date identified 4.81 million ounces of Measured and Indicated Resources, plus Inferred Resources of 6.98 million ounces. Work is ongoing to extend Banro's total resource base, with pre-feasibility studies currently underway.EventZaunscherb lists Banro as his #1 Top Pick for 2008 and explains the reasons behind his Sector Outperform rating and $20.00 target.Takeaways From The EventZaunscherb feels “Banro Corporation represents one of the best packages of undeveloped resources available globally,” thus making it consolidation target. Banro is focussed on exploration and development along the 210 km Twangiza-Namoya gold belt in the Democratic Republic of the Congo. According to Za... More About: Sell , Hold
Buy, Sell or Hold Sterling Resources (SLG:TSXV)
2008-01-16 08:03:00 On January 15th /08 Wellington West analyst Malcolm Shaw released an update on Sterling Resources .Company ProfileSterling Resources is a Calgary-based exploration and production company with assets in the United Kingdom, Romania and France and a primary strategy of growth through international exploration. In order to minimize capital exposure, management leverages their intellectual capital to form beneficial joint venture partnerships.EventIn a note entitled “Sterling Kicks-off New Year in Style with Successful Well Test in Offshore Romania” Shaw explains the reasons behind his Buy rating and $4.50 target.Takeaways From The EventSterling’s current portfolio of projects exposes investors to “78.6 mmbbls of net risked resource potential,” leading to Shaw’s “net risked EMV valuation (exploration-weighted) of $6.31/sh.” With gas discoveries now proven at Breagh and the Doina fields and a number of future drilling prospects, Shaw believes “Sterling provides investors ... More About: Sell , Hold
Buy, Sell or Hold Golden Star Resources (GSC:TSX)
2008-01-15 06:06:00 On January 14th /08 Wellington West analyst Catherine Gignac released an update on Golden Star Resources (GSC:TSX)Company ProfileGolden Star is a Denver based gold producer with two operating mines in Ghana. Production is scheduled to increase in 2007 and 2008 with the new BIOX® circuit to treat refractory ores. Golden Star has extensive resources and multiple exploration prospects near existing operations in addition to one of the largest land positions in Ghana.EventIn a note entitled “Resource Increase at Prestea South; Higher Gold Price Leads to Higher Target of $6.50/Sh” Gignac explains the reasons behind her Buy rating.Takeaways From The EventOn January 11th /08 Golden Star announced that it had -“received an updated resource model for the Bondaye and Tuapim deposits located in the Prestea South area of the Bogoso/Prestea concession approximately 20 kilometers south of the Bogoso processing plants. New drill results and the application of an amended resource model yield... More About: Sell , Hold
Buy, Sell or Hold Western Goldfields (WGI:TSX, WGDFF :OTCBB)
2007-11-04 20:53:00 Comment From Capital Markets analyst, Michael Curran Regarding Western Goldfields Quarterly ResultsCompany ProfileWestern Goldfields is a gold producer focused on completing the expansion of its Mesquite Mine, located in Imperial County, California, and returning the mine to full production. With a 2.8 million ounce gold reserve, and total resources of 3.9 million ounces inclusive of reserves, the Company is the only multi-million ounce US gold reserve not controlled by a major gold company. The Company is fully permitted and fully funded, and estimates average production of 160,000-170,000 ounces of gold annually during the first eight years of mine life. In June 2007, Western Goldfields announced that its production schedule has been moved ahead by one full quarter, which will bring the company into full production by January 2008.EventOn November 1/07 Western Goldfields announced its third quarter results, ending September 30/07.Key Points From the EventThe company reported a net... More About: Sell , Hold , Old West
Buy, Sell or Hold Brilliant Mining (BMC:TSXV)
2007-11-03 03:24:00 Comment From Versant Partners Analyst, Ian Parkinson Regarding Brilliant Mining 's Quarterly UpdateCompany ProfileBrilliant Mining Corp. (BMC: TSXV) is an international nickel explorer and producer. The Company holds a 25% interest in the Tramways Tenements Project, host to the producing Lanfranchi Nickel Mine, located in the World Class Kambalda Nickel District of Western Australia. Mining at the Lanfranchi Mine is ramping up to a projected 8,000 tonnes (17.6 million lbs) of Ni metal production for July 07-June 08 and is targeting nickel metal production of13,250 tonnes (29.2 million lbs) for July 08-June 09. With the Lanfranchi Mine in Australia and early stage projects in Canada, Brilliant is capitalizing on nickel opportunities from exploration to production.EventOn October 30th, 2007 Brilliant Mining provided its investors with a quarterly update and “reported that production from the high-grade Winner orebody commenced on October 14, 2007” (Brilliant Mining - Oct. 30/07 ne... More About: Sell , Hold
Interview with Charlie Spiring, Chairman & CEO of Wellington West Capit
2007-11-01 07:12:00 A Short Conversation With Charlie Spiring, Chairman & CEO of Wellington West Capital Inc.Bio: As founder and CEO of Wellington West Capital Inc., Charlie has ably demonstrated his leadership skills and business expertise in the areas of investments and capital market development. Prior to forming the Firm in 1993, Charlie was a Senior Vice President and Director of Midland Walwyn Capital Inc., Canada's largest independently-owned retail investment firm at the time. During his 13-year tenure with Midland, Charlie consistently ranked as that firm's leading investment advisor of the nearly 1,000 financial advisors employed nation-wide.Charlie has always played a very active role in the Manitoba business community. Wellington West Capital was chosen by the Government of Manitoba as one of the lead underwriters for the Manitoba Hydro Bond issue, placing more than $200 million in the offering. Since its inception and under Charlie's leadership, Wellington has completed corporate fi... More About: Interview
Market Wrap with Neil Jacoby of Aurion Capital and Keith Summers of Stonega
2007-10-31 01:42:00 In anticipation of tomorrow’s FOMC policy statement, Toronto’s TSX Composite dropped 115.27 points to 14,312.08, the Canadian dollar fell 0.04 of a cent to 104.92 cents (U.S.), the December crude contract on the NYME lost $3.15 to $90.38 and December gold finished down $4.80 at $787.80.When asked about the current climate in the markets:“My general response is that the secular forces that are creating a weak US dollar and strong oil and gold prices are still in place. However, as you know market movements are never a straight line. As a result, we wouldn’t be surprised if there is a counter trend move in these markets. They all appear to be either stretched on the upside (oil, gold and Canadian dollar) or downside (US dollar, natural gas, financials). Timing is always tricky with counter trend moves.”- Neil Jacoby (CFA), President & Managing Partner of Aurion Capital Management (Oct. 30, 2007)Additionally, I also happend to have a short conversation with Keith Summers ... More About: Market , Coby
Buy, Sell or Hold - Powertech Uranium Corp. (PWE:TSXV)
2007-10-27 03:48:00 Research Capital Analyst Brian Mok Initiates Coverage on Powertech Uranium Corporation (PWE:TSXV)On October 23/07 Research capital analyst, Brian Mok initiated coverage on Powertech Uranium Corporation (PWE:TSXV) with a $3.00 target price, and a BUY recommendation. Key Highlights1. Powertech’s projects and properties are located in a safe jurisdiction in the western United States. The company has focussed and targeted it efforts on properties that are amenable to in-situ recovery (ISR) mining methods. The benefits of in-situ recovery mining include having low capital costs for mine development, being environmentally friendly, not having waste rock or tailings ponds, being profitable even for lower grade uranium deposits and utilizing a small labour force.2. It’s most advanced projects (Centennial and Dewey-Burdock in Coloradoand South Dakota, respectively) are targeted to be producing 1,000,000 pounds of Uranium each – Centennial in mid 2010 followed by Dewey-Burdock in mid 20... More About: Sell , Hold , Rani
Glenn Catchpole of Uranerz Energy (URZ:AMEX, URZ:TSX) - An Interview
2007-10-21 22:26:00 An Interview with Mr. Glenn Catchpole - President & Chief Executive Officer of Uranerz Energy (URZ:AMEX, URZ:TSX)With both Ux Consulting and TradeTech boosting their spot price indicators for uranium this week by US$3 to US$78 per pound, the freefall in the short term spot price of uranium might have finally turned a corner. After peaking at $136/lb in June 2007, the spot price had plummeted to $75/lb until last week, when it rose (by $3/lb) for the first time in 17 weeks according to Ux Consulting. In response to the price increase, RBC Dominion Securities analyst, Adam Schatzker wrote “With a spot price increase of $3/lb and relatively robust volumes, we believe we are seeing real renewed interest in the market. Buyers over the past two weeks have been of mixed types (e.g. utilities, speculators, traders) and we are hearing rumours that a utility is looking for first core material on the spot or term market. We believe utilities will continue to reenter the market as their 2... More About: Amex
Ken Cunningham of Miranda Gold - An Interview
2007-10-17 07:48:00 Interview with Mr. Kenneth D. Cunningham – President & Chief Executive Officer of Miranda Gold (MAD:TSXV)Mr. Cunningham brings over thirty years of experience from diversified mineral exploration and mining geology through to executive management. Eighteen of these years have been focused in Nevada. Recently, Mr. Cunningham has been Vice President of Nevada North Resources (U.S.A.) Inc. where he acquired eight new properties and successfully negotiated leases with major mining companies including Newmont, Placer Dome, Newcrest and Barrick. Previously, he has been Exploration Manager with Uranerz U.S.A. Inc. During his tenure with Uranerz Mr. Cunningham led the exploration and acquisition effort that resulted in two Nevada discoveries; a four-million ounce discovery in the Battle Mountain trend and a one-plus-million ounce discovery in the northern Carlin trend. He was also instrumental in establishing, and subsequently managing, Uranez' Mongolian gold exploration program. Mr.... More About: Interview
Don Coxe Basic Points October 2007
2007-10-16 22:00:00 Don Coxe Basic Points October 2007 - "The Ghost Of Octobers Past"To download Mr. Don Coxe's October 2007 Edition of Basic Points click hereFor the Mr. Coxe's weekly Institutional and Client Call Click Here
Guyana Goldfields (GUY:TO) – Buy, Sell or Hold?
2007-10-12 07:46:00 Guyana Goldfields Releases Initial Resource EstimateOn October 10th Guyana Goldfields announced its initial resource estimate for its wholly owned Aurora project, which said “at a 0.50 g/t Au cut off the Total Indicated Resource is 1.97 Million Ounces and the Total Inferred Resource is 2.68 Million Ounces for a totalof 4.65 Million Ounces.” At a cut -off grade of 1.0 g/t the resource amounts to 4.4 million ounces and the gold price used for calculating the cut-off grade was US$ 525/ ounce. The resource was determined for three nearby zones within the Golden Mile, including Aleck Hill, Rory’s Knoll, and East Walcott Hill. The press release also indicates that the “resource is amenable to open pit mining practices with high recovery ratios (approximately 92%).”According to Dundee Securities Mining Analyst Mark Smith, “a scoping study is still needed for the Aurora project in order to better understand the economics.” He slaps a 12 month MARKET OUTPERFORM rating on Guyana... More About: Sell , Guyana , Hold
Novagold (NG:TSX, AMEX) - Buy, Sell or Hold?
More articles from this author:2007-10-09 00:55:00 Buy Novagold For Leverage To The Gold Price?While the price of gold may undergo some short term consolidation after hitting multi year highs recently, Citigroup metals and mining analyst John Hill is as bullish as ever for the yellow metal. In a research note released today, he writes “Gold has set 28-yr highs above $740/oz, and seems to be entering a new investment-driven phase. Drivers are shifting from safe-haven demand and exchange rates, to a broader "re-flation trade" with help from seasonality.” Based on his bullish outlook, he maintains his $750/oz forecast for 2008 while hiking his “forecasts for 2009/10 to $800/820 and long-term valuation to $700.”Consequently he also raises his Earnings Per Share estimates for North American miners, bumps the target price of their favourite big cap gold stock Barrick Gold to $48/share, Freeport McMoran to $122/share and upgrades Novagold to a BUY from Hold . He goes on to say that any corrections in gold are buying opportunities an... More About: Sell , Amex 1, 2, 3 |
|
 |
|
 |
