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RBC’s Top gold pick

Posted by ResourceBoom on December 15, 2006

Anatolia shares soar after RBC tabs it a ‘top pick’
www.globeinvestor.com

Anatolia Minerals Development Ltd. (ANO-TSX) closed near a record high yesterday after RBC Dominion Securities labelled it a “top pick,” saying it was “a gold stock to own for 2007.”

The shares closed yesterday up 40 cents to $4.45, which gave the company a market capitalization of $339-million.

An updated resource estimate could boost the two million ounces of reserves by 10 per cent to 20 per cent and investors are not giving any value to the sulphide ore making it a potential takeover target, said Michael Curran, an analyst at RBC. The company is developing the 100-per-cent-owned Copler gold-silver deposit in east central Turkey. The environmental impact assessment and construction startup are expected in the second quarter, he said. The 160,000-ounce-a-year oxide mine is estimated to cost $126-million to develop. Anatolia has more than $60-million in cash and it expects to finalize terms for $115-million in project debt.

© The Globe and Mail

This entry was posted on December 15, 2006 at 5:19 pm and is filed under gold. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.

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