RE: Pescods speculation- $3.30 targetDavid Pescod must read this board. Here's today's Late Edition comments...
The same for Canaccord’s mining guy Wendell Zerb
as he ups his target for Globestar Mining. He notes the
bad news, “Head grades have decreased, strip ratios
have increased, cash and operating costs have increased…”
But he also notes though, “throughputs
have increased and our modelled mine-life has increased
by two years to 8.5 years.” He has upped his
target price on Globestar to $3.30 from $3.00, meaning
there is a potential double in this stock. Oh yes. He
has upped his target prices for some commodities including
copper to $2.00 a pound, which frankly, still
looks cheap to us.
He also expects the Cerro de Maimon mine to be in
production by August. Previously we would have
thought that Globestar was a take-over candidate—we
still do—just maybe cheaper. We buy a few more.