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Jennings Capital Initiates Speculative Buy Coverage on Orezone Gold - Video Posted on InvestmentPitch.com
Vancouver, British Columbia--(Newsfile Corp. - May 8, 2013) - Investment firm Jennings Capital...
About this update from Orezone Gold Corporation
[{"type":"text","content":"\nJennings Capital Initiates Speculative Buy Coverage on Orezone Gold - Video Posted on InvestmentPitch.com\n\nVancouver, British Columbia--(Newsfile Corp. - May 8, 2013) - Investment firm Jennings Capital initiates coverage on Orezone Gold (TSX: ORE). Analyst Dan Hrushewsky gives the company a speculative buy recommendation and a 12-month target price of $2.65, a 389% premium to the $0.68 price the day the report was issued. InvestmentPitch.com has produced a \"video news alert\" about Orezone based on this research report. If this link is not enabled, please visit www.InvestmentPitch.com and enter \"Orezone\" in the search box. If you cannot view the video above, please visit:http://www.investmentpitch.com/video/0_jxljv20v/Jenning-Capital-initiates-coverage-on-Orezone-Gold-TSX-OREOrezone is a mining exploration and development company focused on developing its flagship Bomboré Gold Project in Burkina Faso, West Africa. The company owns a 100% interest in Bomboré which is situated 85 kilometres east of the capital city, adjacent to an international highway. Bomboré is the largest oxide resource in West Africa, with an April 2013 Measured and Indicated resource of 1.96 million ounces gold grading 0.91 grams per tonne. Its total Measured and Indicated resource equals 4.56 million ounces grading 1.01 grams per tonne, ranking it as one of the largest undeveloped gold projects in West Africa. This weathered oxide material is softer and cheaper to mine and mill, and as it is near the surface, it has a lower strip ratio. In addition, it is chemically degraded and has higher recoveries and utilizes less reagents. With a multiple pit resource, it is easier to design a scaled down operation to reduce upfront capex, to design a mine plan to accelerate development of higher grade ounces and, once in production, to mitigate pit specific risks by shifting production from one pit to another to maintain a constant production rate. Jennings Capital analyst Dan Hrushewsky stated, \"The sensitivity of Orezone's target price to changes in gold price is one of the highest in our coverage universe - for a 10% gold price increase, Orezone's target price increases by 33%.\"Additional assets include its Bondi Gold Exploration Project in Burkina Faso, with a Measured and Indicated resource of 282,000 ounces gold at 2.12 grams per tonne, a...