Analysts & Reports since Resource Estimate last released 02 Apr 2012
Many of these ratings and price targets on low end, assume excessive Mine Financing costs of up to $750M, with sustaining capital $250M, ie., BMO 2 Apr 2012, greatly diluting sharebase for lower Target Prices and NAV. Cheers, Mark
24 Oct 2012 - Kwong-Mun Achong Low, Jennings
- 12-month target price of $3.75 per share (trading at just 0.31x our $5.27 per share NAV)
- Buy Rating
05 Oct 2012 - Tyron Breytenbach, Cormark
- Upgrade To Top Pick Rating (From Buy (S)) And Reiterate $3.15 Target)
02Oct 2012 – RBC “Further Upside for Gold Equities”
- Target (12 month) $2.50, ($2.72 NAV)( Increased discount rate to 9% from 7% to reflect the early stage of project)
11 Sep 2012 – Tyron Breytenbach, Cormark – Initiates Coverage
- Buy (S) Rating and $2.70 Target Price (NAV $2.72 per share)
31 Aug 2012 - Jr. Golds Explorers & Developers-AMC/oz Valuations-RBC-Micheal Curran
- Probe AMC/oz $5.00
- The group average has generally been in the range of $50-$75/oz (excluding a significant dip down towards $10-$15/oz back in Q4/2008
- The current $34/oz average is roughly flat from the US$35/oz average seen in our last update in June.
30 Jul 2012 – Ali Khan – Stonecap Securities
- Outperform; Target $3.00 (NAV $3.02)
- Goldex Royalty back in contention
5 Jun 2012 – Kwong-Mun Achong Low, Northern Securities
- Buy Rating, 12 mo Target $4.25
- NAV 5% remains unchanged at $5.64/share
29 May 2012 – Ali Khan – Stonecap Securities - Initiates Coverage
- Outperform, Target Price $3.00 (NAV $3.02)
3 Apr 2012 – Kwong-Mun Achong Low, Northern Securities
- Buy, 12 mo Target $4.25 (was $4.00)
- NAV 5% increases from $5.32 to $5.63
3 Apr 2012 – Peter Campbell – Jennings
- Speculative Buy, 12 mo Target $5.00 (was $4.75)
2 Apr 2012 – John Hayes – BMO
- Market Perform, 10% NAV estimate of $2.10/sh at Spot Gold $1667
- NAVPS $4.37 at Spot Gold Prices (assumes 584.5M shares)
- NAVPS $2.97 using Commodity Price Assumption (assumes 584.5M shares)
2 Apr 2012 – Sam Crittenden – RBC
- Outperform
