GREY:ICMTF - Post by User
Post by
spazzmanon Aug 23, 2010 4:37pm
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Post# 17376022
Price target increase
Price target increase
NCP Northland Raises Target on ICI
CATHERINE GIGNAC, NCP Northland Capital Partners (08/20/2010)
"Price target increased to $2.45 from $2.20. . .ICI is advancing its Dachang Gold Project in China toward feasibility. We believe ICI presents an excellent opportunity to invest in a potentially high-return, low-cost gold project in China—the world's largest gold-producing country. Due to the scarcity of large global mines, the project could be attractive for a company already working in the region, a new entrant or a Chinese company. The share price currently reflects a discount to our development project.
NPV estimate of $2.43/share, which only incorporates 57% of all resources in the mine plan. Additionally, the shares currently do not reflect the value for inferred resources being upgraded with infill drilling and the blue-sky exploration potential on identified mineralized zones."