Avion Gold Corporation (TSX:AVR) (OTCQX:AVGCF) Receives Updated Buy Recommendation from Canaccord Genuity - Video Summary Posted on www.InvestmentPitch.com
(Thomson Reuters ONE) -
Vancouver, British Columbia, July 13, 2012 - Investment firm Canaccord Genuity
has reiterated its buy recommendation for Avion Gold (TSX:AVR) (OTCQX:AVGCF).
Analyst Steven Butler maintains his buy rating and target price of $1.75, a
premium of 250% above today's price of $0.50.
InvestmentPitch.com has produced a "video news alert" about Avion Gold based on
this report. If this link is not enabled, please visit www.InvestmentPitch.com
and enter "Avion" in the search box.
Avion is a Canadian-based gold mining company focused in West Africa, where the
company holds 80% of the Tabakoto and Segala gold projects in Mali.
The Canaccord report follows the announcement of increased production guidance,
and news that a planned mill expansion is back on the table.
Despite the recent coup in Mali, operations at Tabakoto have been progressing
with minimal disruption. The political situation appears to have mostly
stabilized in the southern part of Mali, where Tabakoto is located, as a result
of which the Canadian government has lowered its travel warning advisory by one
level.
On July 9th, the company reported record second quarter production of
approximately 28,600 ounces of gold from its Tabakoto operation. Management
believes the company is well on its way to achieving its upgraded production
guidance of 95,000 to 102,000 ounces of gold for 2012. During the second quarter
of 2012, the company milled 191,500 tonnes of ore at an average grade of 5.05
grams per tonne, with a 92.5% mill recovery. As at January 1st, the company had
a mineral reserve estimate of 6.91 million tonnes grading 3.73 grams per tonne
gold totalling 187,100 ounces of gold in the proven and probable categories, for
the Tabakoto project property.
Avion's COO, Andrew Bradfield comment, "The Tabakoto Mine has had two
consecutive record production quarters that were achieved despite a military
coup in the first quarter of 2012, and subsequent destabilization of the Malian
government. The Tabakoto underground mine continues to produce higher than
expected ore grades with a lower amount of ore dilution at higher processing
recoveries than planned, that when combined with good open pit grades resulted
in an excellent quarter."
Considering the improvement in the situation, management has indicated that the
temporarily suspended mill expansion is anticipated to resume in late 2012 or
early 2013, with all parts and supplies required to complete the expansion now
at to the site.
Steven Butler stated "In our view, continued strong operating results from
Tabakoto are a testament to the team's ability to successfully operate even in
difficult environments. We believe the announcement by the company should
reassure investors regarding mill expansion timelines and the Mali situation in
general."
For more information about Avion Gold, please visit the company's website
www.aviongoldcorp.com, or contact Michael McAllister at 416-309-2134 or email
info(at)aviongoldcorp.com.
For a copy of Canaccord Genuity's research, contact your nearest Canaccord
Genuity office, which are listed on their website at www.canaccord.com.
InvestmentPitch.com, 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, specializes in
producing short three minute videos based on news releases and research reports.
CONTACT:
InvestmentPitch.com
Barry Morgan, CFO
604-684-5524
bmorgan(at)investmentpitch.com
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Source: InvestmentPitch via Thomson Reuters ONE
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Datum: 13.07.2012 - 22:50 Uhr
Sprache: Deutsch
News-ID 165238
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