TSX:SUE.WT - Post by User
Post by
nemoraon Jan 10, 2011 3:12pm
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Post# 17949820
$3.90 target and potential to +$5.50/sh.
$3.90 target and potential to +$5.50/sh. From The Gold Report
pub/co/1442?cover=1
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Steve Parsons, WellingtonWest Capital Markets(01/10/11)"Hallmarksof a company-maker emerged in 2010. . .to solidify in 2011. Thecombined effect of a resource update, feasibility and 70,000m drillingshould ensconce Shahuindo as a tier-1 development asset that drivesrerating. Target +2 Moz. oxide resource; upward grade bias agame-changer. Drilling keeps adding ounces in main corridor.Importantly, PQ drilling reveals potential for materially highergrades—strategic significance to swell.
Shahuindo fits the billfor emerging, and likely to be enduring, thesis. With a burgeoningmid-tier producer space and building cash balances, M&A tointensify; mid-sized, low-capex intensity projects apt to benefit.Reiterating $3.90 target and Buy rating. Upside potential to +$5.50/sh.;target based on weighted average of 1.2x (unchanged) our NAV8% of$2.74/sh and 1.0x forward-curve NAV8%."