On TRX...
Taylor refreshes Terrane Metals buy
2008-05-09 15:51 ET - In the News
Jay Taylor in the April 17, 2008, edition of Gold & Technology Stocks refreshes his buy recommendation for Terrane Metals Corp., recently 39 cents. Mr. Taylor said buy four times between May, 2006, and March, 2008, at prices ranging from 37.5 cents to $1.46. A $1,000 investment for each of the four buys is now worth $2,684. Terrane recently received a feasibility study for its Mt. Milligan project in British Columbia. The study gives Mt. Milligan a mine life of 15.3 years, with the first six years of production estimated at 265,000 ounces of gold and 97 million pounds of copper. At an 8-per-cent discount rate, the study estimates Mt. Milligan's net present value at $606-million. Mr. Taylor says that based on these figures, a fair valuation of Terrane would be roughly $1.69. The newsletter writer notes that the company also has another advanced-stage project that also has considerable merit, plus some exploration projects. Paradigm Capital recently stated that Mt. Milligan is within the top 10 copper-gold targets located in safe political environments. Paradigm has set a price target of $1.35 for Terrane over the next year, and Mr. Taylor thinks that this is a reasonable target for the undervalued stock. |
