Canaccord Genuity Updates Buy Recommendation on Brigus Gold (TSX:BRD) - Video Posted on InvestmentPitch.com
(Thomson Reuters ONE) -
Vancouver, British Columbia, April 5, 2013 - Canaccord Genuity has upgraded
coverage on Brigus Gold (TSX:BRD). Analyst Steven Butler reiterates his buy
rating, retaining his 12-month target price of $1.90, a healthy 124% premium to
the $0.85 price the day the report was issued.
InvestmentPitch.com has produced a "video news alert" about Brigus Gold based on
this research report. If this link is not enabled, please visit
www.InvestmentPitch.com and enter "Brigus" in the search box.
Brigus is a growing Canadian gold producer, and operator of its wholly owned
Black Fox mine and mill in the Timmins Gold District of Ontario. The Black Fox
Complex encompasses the Black Fox mine, the new Grey Fox property and adjoining
properties in the Township of Black River-Matheson.
The Canaccord report followed the release of the results from the 4th quarter of
2012, with the company reporting adjusted earnings per share of $0.04, and with
Black Fox production forecast for the 1st quarter of 2013 well ahead of the
previous quarter.
For 2013 the company offered production guidance of 90,000 to 100,000 ounces of
gold at cash costs of $700 to $750 per ounce. The company released additional
results from the Grey Fox today, which included high grade gold intercepts of
5.2 grams per tonne over 34.85 metres from the 147 Zone and 10.6 grams per tonne
over 14.00 metres from the Contact Zone.
Howard Bird Senior Vice President of Exploration stated, "These high grade drill
results are more evidence of the rich ore body at Grey Fox. We are confident
that the exploration results from both the 147 and Contact zones will
significantly increase the Company's total gold resource."
The company anticipates the release of a Grey Fox resource update by the 3rd
week of April.
Analyst Steven Butler stated, "We believe the market is ascribing little to no
value for Grey Fox, which we believe will be positively recalibrated on the
release on the upcoming resource update and following the results of the
feasibility study."
The company is also developing the Goldfields Project located near Uranium City,
Saskatchewan, which hosts the Box and Athona gold deposits.
Canaccord cautions that investors should consider the risk to the timing of the
ramp-up of underground production at Black Fox, the early-stage nature of the
grey Fox development and unfinanced status of the Goldfields project in
Saskatchewan
Brigus Gold currently trades at $0.81, and with 265 million shares outstanding,
is capitalized at $215 million.
For more information on these and the company's other projects, please visit the
company's website www.brigusgold.com, or call Kate Wood, Manager of Investor
Relations at 902-442-7184 or by email at kwood(at)brigusgold.com.
For more information about Canaccord Genuity or to obtain a copy of their
research report, contact your nearest Canaccord Genuity office. Their branches
are listed on their website at www.canaccord.com.
About InvestmentPitch
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 three minute videos based on news releases and research reports.
CONTACT:
InvestmentPitch.com
Barry Morgan, CFO
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#1690899]
Unternehmensinformation / Kurzprofil:
Datum: 05.04.2013 - 22:54 Uhr
Sprache: Deutsch
News-ID 246483
Anzahl Zeichen: 4311
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 306 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Canaccord Genuity Updates Buy Recommendation on Brigus Gold (TSX:BRD) - Video Posted on 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).
