GREY:VITFF - Post by User
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MVargason Sep 01, 2022 6:18pm
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Globe says BMO's Mikitchook sweet on Victoria Gold
Globe says BMO's Mikitchook sweet on Victoria GoldThe Globe and Mail reports in its Thursday, Sept. 1, edition that BMO Nesbitt Burns analyst Andrew Mikitchook has reiterated his "outperform" call on Victoria Gold. The Globe's David Leeder writes in the Eye On Equities column that Mr. Mikitchook cut his share target to $20 from $23. Analysts on average target the shares at $18.31. Mr. Mikitchook says in a note: "We are updating our production assumptions for the Eagle mine after Q2's earnings and conference call -- our new production profile assumes a more gradual increase towards the 250,000oz/year range now that previously planned ore scalping screen is being redesigned due to supplier delays. During our recent site visit to Eagle, the mine appeared to be operating well and discussions focused on various optimizations to improve performance." The Globe's Niall McGee reported on Nov. 15 that CI Global analyst Jon Case saw Victoria Gold as a potential takeover target. The shares could then be had for $18.13.