posted on
Jan 29, 2008 05:46AM
Aurelian Resources Was Stolen By Kinross and Management But Will Not Be Forgotten
The company whose shareholders were better than its management
Message: Manager Picks: Robert Cohen
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Manager Picks: Robert Cohen
Posted: January 29, 2008, 8:30 AM by David Pett
Manager: Robert Cohen, Goodman & Company
Style: All-style encompassing
Fund: Dynamic Precious Metals
Strategy: A movement toward quality with an emphasis on reduction in political risk. A more concentrated position among holdings ie bigger bets and fewer names.
Buy recommendations:
Aurelian Resources Inc.
San Gold Corp.
Andean Resources Ltd.
Sell recommendation:
NovaGold Resources Inc.
Commentary:
"Aurelian is one of the most exciting discoveries in this cycle. They already have compliant resources of 13.7 million ounces at around 7.3 grams which is high grade for an underground mine with wide mining widths. We still have to get better clarity on the mining laws that will be put in place in Ecuador and the market is basically waiting to see how the new mining act will look. There seems to be more worry embedded in the share price that what reality will be but we think it will wash out quite nicely. We feel that the valuation is probably trading at one-third the valuation of where it ought to be. Probably a $24 to $25 target would be reasonable.
7 Recommendations
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