Old API Wind-down Ltd - Ordinary Shares ARLZQ

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Alas! I spoke too soon The following is from Advice for Investors. Aurizon secures financing. By Staff Writer Last time we heard from Chris Bradbrook of BLC Securities about Aurizon Mines Ltd. (TSE-ARZ), he emphasized the importance of aggressive financing for the company's Casa Berardi project. Now that Agnico-Eagle Mines Ltd. (TSE-AGE) has agreed to invest in the project, what does he have to say? "As we have stressed in previous research on Aurizon," says Mr. Bradbrook, "we believe that the Casa Berardi project represents the future for the company.... The recommencement of drilling at Casa Berardi is positive. We believe that results to date suggest the strong possibility that further drilling will lead to additional success." Agnico's purchase of five million units to be issued by Aurizon at $0.80 each will bring some $4 million to the project and enable a diamond-drill program to commence shortly. Reserves at Casa Berardi are believed to exceed 2.3 million ounces of gold. He maintains his buy recommendation and $2.50 target price. He also rates Agnico a buy, with a target of $12. Brian Christie and Johann Aler of Canaccord Capital also rate both companies buys. Their 12-month target price on Aurizon is $1.50. Aurizon shares are trading at $0.79, up four cents from yesterday's close.