Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

Golconda Gold Ltd GG


Primary Symbol: V.GG Alternate Symbol(s):  GGGOF

Golconda Gold Ltd. is a Canada-based un-hedged gold producer and explorer with mining operations and exploration tenements in South Africa and New Mexico. The Company operates through its wholly owned subsidiary, Galane Gold Mines Ltd., two assets: a producing gold mine which also has the rights to certain mineral exploration tenements (the mine and mineral exploration tenements collectively, the Galaxy Property) located in the Republic of South Africa (South Africa) through subsidiaries located in South Africa, and a gold and silver mine and processing infrastructure located in the United States of America (the Summit Property) that is in care and maintenance. The Galaxy gold is situated approximately eight kilometers (km) west of the town of Barberton and 45 km west of the provincial capital of Nelspruit in the Mpumalanga Province of South Africa. The property covers approximately 58.6 square kilometers (km2) is part of the prolific Barberton Greenstone Belt.


TSXV:GG - Post by User

Bullboard Posts
Post by scissors14on Jun 19, 2006 9:39am
438 Views
Post# 11005983

Nesbitt Resumes Coverage at Market Perform

Nesbitt Resumes Coverage at Market Perform GOLDCORP INC. (G-TSX; GG-NYSE) Geoff Stanley Rating: Market Perform Price: $31.00 Target: $39.00 2006E EPS: $1.63 á 2007E EPS: $1.47 á 2008E EPS: $1.13 Price & Target in CDN$, all other values in US$ Title: Resuming Coverage at Market Perform Event: We are resuming coverage of Goldcorp, following an extended period of restriction, with a Market Perform rating and a target price of $39.00 per share. Impact: Neutral. Forecasts: We have updated our forecasts for the successful early warrant exercise, the updated Los Filos feasibility study, the completion of the acquisition of the Eleanor project, the recent quarterly result, and a change to our medium-term base metals forecasts. For 2006, we expect the company to produce 2.2 million ounces of gold at a total cash cost of negative $41/oz. Earnings should reflect production growth, except for later years where we expect some increases in costs (lower copper prices) to flatten earnings and cash flow. Valuation: Our asset valuation (0% discount rate and $500/oz long term) stands at $18.59, and sees the share price at a 48% premium. Based on the current spot gold price of $578/oz, our NAV increases to $22.22, and the NAV premium falls to 22%, which compares to its peer group average of 5%. Recommendation: We expect solid earnings per share growth over the coming quarters. The strategic initiatives the company takes in order to de-leverage the balance sheet including likely asset sales and/or swaps offer opportunities to add value. A period of poor sector performance has seen Goldcorp’s valuation improve and we rate the stock Market Perform with a target price of $39 per share.
Bullboard Posts