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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?

To: Claude Cormier who wrote (66131)	7/9/2009 12:03:06 AM
From: riversides	Respond to of 78409

read this June 24 2009, LAKE SHORE GOLD (T-LSG) $2.90 +0.46 Someone else did come up with interesting gold intercepts today with huge widths and that was Lake Shore Gold. The company had been gearing up for big exploration programs and actual production in the second half of this year and because of that, many analysts were starting to cover it. BMO had started coverage and gave it a $3.10 target; Canaccord had raised their target from $2.40 to $2.55; TD had raised their target from $1.75 to $2.25 and then again raised it recently to $3.00. Raymond James raised their target from $2.70 to $3.10 and part of the reason was a better gold market over the last several months. Today they came up with news that may have to change analysts’ predictions yet again. How about 83 metres of 12.7 grams per ton gold? Now this is hard-rock mining with different economics and Lake Shore has about five times as many shares out as Underworld, but this is the kind of stuff that moves markets. Canaccord analyst Wendell Zerb had written some background on Lake Shore writing, “For 2009, Lake Shore is guiding for C$89 million in capital, including approximately $14.0 million for exploration. A bulk sample from a crosscut off of the Timmins West shaft is expected by Q4/09. Lake Shore is targeting 30,000 ounces of gold to be produced in H2/09. The Bell Creek mill has been refurbished to a capacity of 800 tpd and expected to expand to 1,500 tonnes per day as additional mill feed becomes available. In Q2/09 Lake Shore expects to commence dewatering and rehabilitating the existing Bell Creek Mine shaft and workings and collaring of a ramp at Bell Creek. Recently released drill results from Bell Creek and Vogel showed good continuity of the mineralized system but, in our opinion, as a whole, are marginal in grade and overall width. Lake Shore also recently released more results from Thunder Creek, which we found moderately encouraging. Assays from additional step-out drill holes are pending.” This didn't sound all that aggressive at the time Zerb’s work was published in early May, but with today’s results, Lake Shore is probably going to attract a little more attention for an old mining camp in the Timmins area that over time has been one of the most prolific producers of gold in the world.