Could be the norm
NP says Fiera managers wash their hands of Lake Shore
Lake Shore Gold Corp (C:LSG)
Shares Issued 347,623,925
Last Close 4/20/2010 $2.97
Wednesday April 21 2010 - In the News
The National Post reports in its Wednesday, April 21, edition that Fiera Capital portfolio managers Martin Dufresne and Patrick Potvin recently unloaded all their holdings in Lake Shore Gold. The Post's Jonathan Ratner writes in the Buy & Sell column that Mr. Potvin says that while Lake Shore Gold is operating in one of the world's best jurisdictions, Ontario, every miner in Canada is being impacted by the higher dollar. Mr. Potvin says, "For everybody in Canada, the gold price is going up but very slightly." He says, "The Canadian dollar is going up very fast, so the margin of the Canadian producer right now is getting squeezed." While Lake Shore has an impressive growth profile, Mr. Potvin notes that the company has consistently reduced its 2010 production guidance due to the need to spend more time drilling. Lake Shore stock edged up four cents to finish Tuesday on the Toronto Stock Exchange at $2.97. The stock has a one-year range of $1.55 to $4.37. Mr. Dufresne says, "Typically, you should do better with small caps in a recovery and we're still working with an economic scenario of modest growth."
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