Mike Parkin, Merrill Lynch (1/27/12) "Funds Detour Gold Corp. needed to complete Detour Lake are now secured; we have updated our model for the reported 5% increase in reserves, the lower life-of-mine strip ratio, the expected earlier start up and the CA$28/share equity financing (8.6M shares plus an over allotment option for 1.29M shares). The project is currently ahead of schedule, with first gold expected in late Q412 (prior Q113)."