RE: Can someone post the TD report?
Here is a piece of the TD Report. Clearly without question CAN will far surpass $8 plus we are about to receive spin out share.
Our target increases to $8/share and we maintain
our Spec BUY rating.
Outlook
We anticipate the following developments over our 12-month target price horizon:
• Graduation to the TSX by year end
• Annual General Meeting and potential approval of spin-out of Ethiopian properties – mid December
• Additional drill results, possibly including those target new discoveries outside of the Magambazi deposit
• Initial resource estimate for Magambazi – 2011
Valuation
We calculate that Canaco is currently trading at 0.88x corporate NAV5%; this represents a significant discount
to comparable development stage gold companies in our coverage universe which trade at an average of 1.23x
corporate NAV5%. We expect this valuation gap to narrow as the company regains momentum with the
complete resolution of the title issue affecting a small part of its property and the release of further drill results
from Magambazi.