Canaccord Genuity Initiates Coverage on Levon Resources (TSX:LVN) - Video Summary Posted on www.InvestmentPitch.com
(Thomson Reuters ONE) -
Vancouver, British Columbia, March 9, 2012 - Investment firm Canaccord Genuity,
initiates Coverage on Levon Resources (TSX:LVN). Analyst Wendell Zerb gives the
company a speculative buy rating and a 12 month price target of $2.15, a premium
of 133% above today's price of $0.92.
InvestmentPitch.com has produced a "video news alert" about Levon Resources
based on this report. If this link is not enabled, please visit
www.InvestmentPitch.com and enter "Levon" in the search box.
Levon is a junior gold and precious metals exploration company, focused on
advancing its 100%-owned flagship Cordero project in Mexico. The company also
holds exploration interests in Nevada, including early-stage joint venture
arrangements with Barrick and Coral Gold, and in the Bralorne Gold camp in
British Columbia.
The 20,000 hectare silver, gold, zinc, lead Cordero property is host to 683
million ounces of silver equivalent, making it one of the largest silver
equivalent resources held by a junior exploration development company. Cordero
is situated in the same geological belt and has similar geological
characteristics to Goldcorp's Penasquito deposit.
Geologically, the Cordero area remains open for resource expansion - 6
mineralized intrusive centres have been identified at Cordero and the current
resource is associated with 2 centres.
In January, the company released highlights of a preliminary economic
assessment, which examined a 40,000 tonne per day, four stage, open pit
operation.
The consultants forecast a yearly average of 8.7 million ounces of silver, 91
million pounds of zinc, 68.8 million pounds of lead, and 12,660 ounces of gold,
over a 15-year mine life.
Zerb stated, "We view Levon as an exploration/development company that controls
of the largest silver - multimetal deposits in our universe. The relatively low
open pit grades outlined in the Preliminary Economic Assessment of about 22.4
grams per tonne silver, 0.41% zinc, 0.26% lead, and 0.069 grams per tonne gold
combined with median capex and opex costs, make this a relatively highly
leveraged silver asset. We believe further optimization and resource expansion
is likely to improve project economics and expand the project scope. With $62
million in cash we believe the company is fully funded for the upcoming work
program."
Levon currently trades at $0.92, and with 199 million shares outstanding, the
company is capitalized at $183 million.
For more information, and a copy of the research report, please visit the
company's website www.levon.com, or phone 604-682-3701.
For more information about Canaccord Genuity or to obtain their research,
contact your nearest Canaccord Genuity office. Their branches are listed on
their website at www.canaccord.com.
InvestmentPitch.com is a multimedia company that provides a combined solution
for creating and hosting financial video content, and distributing it across
multiple platforms to investors and financial professionals. InvestmentPitch.com
specializes in producing three minute videos based on news releases and research
reports.
CONTACT:
InvestmentPitch.com
Barry Morgan, CFO
604-684-5524
bmorgan(at)investmentpitch.com
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: InvestmentPitch via Thomson Reuters ONE
[HUG#1593027]
Unternehmensinformation / Kurzprofil:
Datum: 10.03.2012 - 01:24 Uhr
Sprache: Deutsch
News-ID 123489
Anzahl Zeichen: 4121
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 658 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Canaccord Genuity Initiates Coverage on Levon Resources (TSX:LVN) - Video Summary Posted on www.InvestmentPitch.com"
steht unter der journalistisch-redaktionellen Verantwortung von
InvestmentPitch (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
