It had been talked about all week: could China’s Sun Yang break the world record in swimming’s 1,500-metre freestyle event? Over the past year, the 19-year-old phenom had been coming close to the mark set 10 years ago by Australian Grant Hackett, and fans at Sunday’s final day of the FINA world aquatic championships in [...]
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Lydian International’s (TSE:LYD) Amulsar project has all the hallmarks of a technically low risk economically robust gold mine, according to Toronto-based broker Cormark Securities.
Earlier this week Lydian unveiled the positive findings of a preliminary economic assessment (PEA) covering the Tigranes and Artavasdes areas of the Amulsar project.
It was yet another boost for the impressive deposit which currently has a 2.5 million ounce gold resource and is still open in all directions and more drilling is scheduled this summer.
The assessment focused on the Tigranes and Artavasdes areas of Amulsar, which host 1.64 million potentially minable ounces of gold, and gave these areas a net present value (NPV) of US5 million – using a US,200 gold price.
In a recent note to clients, Mike Kozak, analyst at Cormark, said that the PEA ‘falls in line’ with his valuation for the company and he repeated a ‘buy’ recommendation that targets C.50 a share.
Similarly Dundee Securities’ Paul Burchell also maintained his ‘buy’ rating which has a 12-month price target of C.00 a share.
The analyst said: “As expected, the study demonstrates robust economics for the development of an open-pit, heap leach operation at Amulsar.”
In the PEA Lydian revealed that Tigranes and Artavasdes could provide annual gold production of 123,000 ounces in the first three years rising to 256,000 ounces in year four through to year seven.
The economic assessment put the mine’s cash costs at US9-499 per ounce. The mine would have an initial capital cost of US2.6 million and it would have an internal rate of return of 45 per cent.
Chief executive Tim Coughlin said: “This PEA is in line with expectations at this stage of the projects’ development and we are confident we can further improve the economics by increasing the overall resource and resource confidence with additional drilling and by future engineering studies later this year”.
Beyond this assessment a further ‘sensitivity case’ was considered to include the additional 460,000 potentially mineable ounces of gold from the Erato area at Amulsar.
In this scenario the project’s NPV increases to US4 million. At Erato, which has yet to be drilled out, the mining operation would have to remove more waste material to access the ore therefore costs (per ounce) would be higher.
In the sensitivity case, to include Erato, Lydian would mine 123,000 ounces in year 1-3 and this would increase up to 221,000 ounces in years 4-7, with cash costs between US2 and US3 per ounce.
In the coming months Dundee’s Birchell expects Lydian’s drill program will improve Amulsar’s economics further, by increasing the size, and confidence level, of the mineralisation in the Erato deposit.
“We continue to expect Lydian’s share price to be propelled higher on positive drill results from this summer’s 40,000 metre drill program; on upwardly revised resource estimates; and an expected production decision over the next 18 months or so,” Birchell said.
Meanwhile, Cormark analyst Kozak stressed that Lydian’s shares are currently trading well below their intrinsic value and there is a great deal of potential for a long term rise in the share price from current levels.
“Moreover, with pending assay results and million cash at present, we also believe Lydian stock presents an excellent risk-reward, short-term buying opportunity as well,” the analyst said.
“With potential resource upside to around 5 million ounces, a technically de-risked and straightforward operating plan following the PEA, a robust production profile without an onerous CAPEX requirement, we view Lydian as an excellent takeover target.”
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The Board of Directors of Eni established the Nomination Committee, led by the Chairman of the Board of Directors, Giuseppe Recchi, and composed by the Chairmen of the other Board Committees:…
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Scott McGrew shows his Gadget Friday this morning… Spare Fuel. Helps you get to a gas station when you’ve run out of gas.
“Gadget Friday Spare Fuel” is categorized as “local”. This video was licensed from Grab Networks. The copyright notice of this video is “© 2011 NBC Universal, Inc..” For additional video content, click the “video” tab at the top of this page.
If you are a new American Banking & Market News reader, we would like to welcome you to our website. American Banking & Market News provides daily coverage of analysts’ ratings for some of the largest publicly traded companies in the world. We cover news surrounding large-cap U.S. financial companies, including Citigroup, Bank of America, Wells Fargo and JPMorgan Chase and discuss the fledgling industry of peer to peer lending. American Banking & Market News publishes hundreds of press releases per day and is part of the American Consumer News, LLC network. We would invite you to consider following our ‘AmericanBanking’ account on Twitter and subscribing to our RSS Feed. You can always view our latest articles and video content by visiting our home page.
This article (Gadget Friday Spare Fuel) was originally developed by and is property of American Banking News. Checkout American Banking News for up-to-date banking news and peer to peer lending news.
Gold miner Adamus Resources on Thursday reported that it had exceeded production expectations at its Nzema project, in Ghana, since commercial production was declared in April. Total gold poured at Nzema came in 8% above the forecasted guidance of 26 015 oz for the three months to June. This was as a result of the [...]
Equities research analysts at FBR Capital (NASDAQ: FBCM) boosted their price target on shares of Weatherford (NYSE: WFT) from .00 to .00 in a research note to investors on Wednesday. The analysts currently have an “outperform” rating on the stock.
Separately, analysts at UBS AG (NYSE: UBS) raised their price target on shares of Weatherford from .00 to .00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Also, analysts at Pritchard upgraded shares of Weatherford from a “neutral” rating to a “buy” rating in a research note to investors on Wednesday.
Shares of Weatherford opened at 22.05 on Thursday. Weatherford has a 52 week low of .65 and a 52 week high of .25. The stock’s 50-day moving average is .54 and its 200-day moving average is .90. The company has a market cap of .431 billion and a price-to-earnings ratio of 1050.00.
Weatherford last announced its quarterly results on Tuesday, July 26th. The company reported .17 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of .15 EPS by .02. The company’s quarterly revenue was up 25.2% on a year-over-year basis. On average, analysts predict that Weatherford will post .32 EPS next quarter.
Weatherford International Ltd. (Weatherford) is a provider of equipment and services used in the drilling, evaluation, completion, production and intervention of oil and natural gas wells. It conducts operations in approximately 100 countries and has service and sales locations in the oil and natural gas producing regions in the world. The Company’s product offerings are grouped into ten service lines: drilling services; artificial lift systems; well construction; completion systems; integrated drilling; drilling tools, re-entry and fishing; stimulation and chemicals services; wireline and evaluation services, and pipeline and specialty services. Its geographic reporting segments include North America, Latin America, Europe/West Africa/ the Former Soviet Union (FSU) and Middle East/North Africa/Asia. In July 2009, the Company acquired the Oilfield Services Division (OFS) of TNK-BP.
This article (Weatherford (WFT) Given New .00 Price Target by FBR Capital (FBCM) Analysts.) was originally developed by and is property of American Banking News. Checkout American Banking News for up-to-date banking news and peer to peer lending news.
“Regardless of the price, you need to have a gold exposure,” he says “Gold goes up for reasons [that are] hard for me to really embrace and root for, because it’s not a happy time, and what we’re seeing right now is this chaos with the U.S. debt situation,” Again Capital exec John Kilduff says [...]
One of the adorable “Little Seedlings” and her teachers want you to wake up!
“Wake-Up Call: Elwyn Seedlings” is categorized as “local”. This video was licensed from Grab Networks. The copyright notice of this video is “© 2011 NBC Universal, Inc..” For additional video content, click the “video” tab at the top of this page.
If you are a new American Banking & Market News reader, we would like to welcome you to our website. American Banking & Market News provides daily coverage of analysts’ ratings for some of the largest publicly traded companies in the world. We cover news surrounding large-cap U.S. financial companies, including Citigroup, Bank of America, Wells Fargo and JPMorgan Chase and discuss the fledgling industry of peer to peer lending. American Banking & Market News publishes hundreds of press releases per day and is part of the American Consumer News, LLC network. We would invite you to consider following our ‘AmericanBanking’ account on Twitter and subscribing to our RSS Feed. You can always view our latest articles and video content by visiting our home page.
This article (Wake-Up Call: Elwyn Seedlings) was originally developed by and is property of American Banking News. Checkout American Banking News for up-to-date banking news and peer to peer lending news.
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