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"Reservoir Minerals Inc is engaged in the acquisition, exploration and development of mineral properties in Serbia, Cameroon, Gabon, Macedonia and Romania."

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RESERVOIR MINERALS INC > Scotiabank revision - inspired by their lawyers?

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Post by cd673 on Jul 29, 2015 3:37pm

Scotiabank revision - inspired by their lawyers?

https://www.dakotafinancialnews.com/scotiabank-cuts-reservoir-minerals-price-target-to-c6-75-rmc/291243/ We need maybe 10 more holes incl. Deep, and an updated resource this year to regain confidence.

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Comment by angelnotes on Jul 29, 2015 9:36pm

I am not so sure the Scotiabank revision is inspired by their lawyers. I think the revision is inspired by the drop in the copper and gold prices since Scotia bank initially placed a value on the stock back in early 2014. At that time, copper price is closer to $3.30 while now is around $2.4 per lb; gold price has lowered also. The target price was lowered from $9 to $6.75 which is ...more

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Comment by thorgb1 on Jul 30, 2015 9:56am

I think the revision was inspired by nothing more then the realities of the current market. As angel said, copper at $2.40 is different then copper at $3+, and gold is also down big since the original estimates. Also, the analyst has changed as Mike Hocking, who was very familiar with RMC and visited Timok at least twice, is no longer at Scotia.

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