RE:Macquarie Research (Upside potential: $2.25)Thanks guys for posting this Macquarie Research report (3 June 2016) which is very comprehensive and well-written.
- 12-mo target: $1.00 (increased from 0.90)...It would be interesting to see if Raymond James would increase its target as well after paying 0.59/s with the PP (today's close @ 0.68; day Hi: 0.69).
- Upside potential (on page 2): $2.25 with shallow mining using ramp and assumption of 4Moz at Lamaque Deep
- Colour Pictures: Pages 4 and 5, especially the one for Lamaque/Sigma Deep on page 4 which shows some additional details. Not sure if the 4Moz potential would include just the 700m, and the 1000m extension potential is treated as a separate potential resource.
Note, there is no discussion about any resource coming from the Sigma side, or the area in between Sigma and Lamaque. Just some observation.
PS: It should be easy enough to do a simple estimate assuming a simple plug geometry to see if one can can come up with a 4Moz for Lamaque Deep.
GH