GREY:RIOAF - Post Discussion
Post by
Kewl2 on Jul 23, 2011 7:19am
Analyst comments
Christos Doulis, Stonecap Securities (7/21/11) "Rio Alto released drill results from 18 RC holes at its 100%-owned La Arena project in Peru. . .many of the holes ended in mineralization outside of the current ultimate pit boundary, suggesting that the ultimate pit will be expanded, which should extend the phase 1 (oxide gold) mine life of La Arena beyond its current estimate of seven years. . .we find this news to be both positive and encouraging and we await the anticipated Q411 resource update at Calaorco before making changes to our model for phase one of La Arena. We are maintaining our Outperform rating and target price of $3.50."
pub/co/2060#quote
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