Post by
paljoey on Jan 26, 2009 1:08pm
Downgraded to underperform
As of today january 26.
It looks like more delays and higher cash costs have slipped into analysts estimates.
V.CSG also has a subtantial open pit mine in Mexico, producing 30,000 oz now and 60,000 oz by April/09.
Cash costs of $370/0z and almost 4 million oz in its mineral resources , with exploration upside.
At $0.53 , it is trading at just $11 per 43-101 oz, and at just 1.5 times cash flows , with good balance sheet.