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eResearch Issues New Speculative Buy Recommendation for Century Iron Mines - Video Summary of Report Posted on InvestmentPitch.com
Vancouver, British Columbia--(Newsfile Corp. - May 16, 2013) - Toronto based eResearch has upd...
About this update from Century Global Commodities Corporation
[{"type":"text","content":"\neResearch Issues New Speculative Buy Recommendation for Century Iron Mines – Video Summary of Report Posted on InvestmentPitch.com\n\nVancouver, British Columbia--(Newsfile Corp. - May 16, 2013) - Toronto based eResearch has updated coverage on Century Iron Mines (TSX: FER). Analyst Bob Weir gives the company a speculative buy recommendation with an initial short-term target of $0.77, a premium of 93% over the $0.40 price the day the report was issued. Going further out within the year, eResearch sets a second target of $1.25. InvestmentPitch.com has produced a \"video news alert\" based on this report. If this link is not enabled, please visit www.investmentpitch.com and enter \"Century\" in the search box.  If you cannot view the video above, please visit:http://www.investmentpitch.com/video/0_4y8kxel1/eResearch--Updated-Coverage--Century-Iron-Mines-TSX-FERCentury Iron Mines is one of the largest iron ore companies in Canada, in terms of number of claims by area, with 6,657 claims and titles, covering some 202,000 hectares in the provinces of Québec and Newfoundland & Labrador. Having added considerably to its resource estimate in 2012 and further in 2013, it is now one of the largest iron ore companies in Canada. The Duncan Lake project, the only project not in the Labrador Trough, is located in the James Bay region of Quebec. A recent Preliminary Economic Assessment for Duncan Lake gives a Net Present Value of $4.1 billion, using an 8% discount factor. It gives an estimated mine life of 20 years, and a payback period of 4.2 years. This is based on only two of six deposits at Duncan Lake, which contain some 800 million tonnes of mineral resources. Three others projects are located in the Labrador Trough region of Québec and Newfoundland & Labrador. One of these projects includes the Joyce Lake project, with a recent NI 43-101 compliant estimate showing 10 million tonnes of Measured and Indicated mineral resources, with an average grade of 59.45% total iron, plus an additional 5.6 million tonnes of inferred mineral resources at a cut-off grade of 50% iron. The company has two strategic Chinese investors (1) Wuhan Iron and Steel (WISCO) with a 25% equity interest and (2) China Minmetals with a 5% equity interest. It has signed definitive joint venture agreements with WISCO for two properties, as ...