Speedy's Top 5 Gold Miners 2012'
February 24, 2012
– Comments (14) |
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5) Aurico Gold - Aurico should get a material re-valuation come year end , perhaps earlier as news from Young-Davidson is released. My personal valuation just for Ocampo & YD [using $1,500 Au, $30 Ag, 10% Discount Rate is in excess of $14/shares based solely on 2p reserves). Aurico also has lucrative assets producing or that are in development, in terms of assets on-top of its flagshi properties. El-Cubo, Kemess, El Chanate conservatily add an additional $5 in NAV, but excludes Guadalupe Y Calvo, Statwell, Fosterville, Orion.
4) Colossus Mining - One of the highest grade deposits in the world will commence pre-production in Q3-Q4 and commercial production in Q1 2012. Management includes several who oversaw construction of sucessful start-up operations at various Yamana properties. Projected to produce approx 200k Au in 2014, Sierra Pelada has significant byproduct credits in the form of palladium and platinum, which will yield cash costs below negative [ -- $200/oz]. Initial production will only focus on the CMZ, with significant upside exploration remaining.
3) Goldgroup Mining - A grossly undervalued emering junior producer will release an updated PEA of its flagship property [ Caballo Blanco], which production is already to be estimated at 200k/yr [commecing 2014] at intial target rate of 100k/yr.
2) Kimber Resources - Trading for 25% or net of cap-ex reqs, Kimber, in my view has to go higher or a takeover bid is likely at somepoint. Some more de-riskiing will come in April, which should be a catalyst for the stock to move higher or be taken out.
1) Metanor Resources - Bachelor Lake will reach commercial production in q2-q3 2012 and reach feasibility levels in q3-q4. This will translate into what I think will be higher than current estimate production [as significant exploration is indicating average grades over 8.5 g/t , opposed to the 7.6-7.8 g/t currently outlined. On an Annualized basis, Bachelor will produce 60-65k/yr, running at 66% mill capacity and sub-$400 cash costs. Mill throughput could be increased 20-30% via acessing higher grade levels [Hewfran]. It;s develpment stage Barry Deposit [simiiliar to detour lake/canadian malartic ] on a smaler scale, where Metanor is currently seeking out a JV partner.
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