2012-12-12 02:07:18 -
Vancouver, British Columbia, December 11, 2012 - Investment firm Mackie Research
has updated its coverage on Panoro Minerals (TSXV:PML). Following a visit to the
property, analyst Matt O'Keefe reiterated his speculative buy recommendation,
maintaining his $1.50 target price. This is a premium of 134% to the $0.64 price
the day the report was issued.
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Panoro's 14 properties are located primarily in the south-eastern region of
According to the Mackie report, the company has currently outlined an inferred
resource of 5.4 million pounds of copper, 3.0 million ounces of gold and 36.9
million ounces of silver at its 100% owned Cotabambas and
Antilla projects. For
more information please refer to the NI 43-101 Technical Reports on the
This region contains a number of important copper and copper/gold deposits
including those of Xstrata, First Quantum, HudBay Minerals, and Groupo Mexico.
O'Keefe believes the project area has all the elements required to build a mine
including water from several rivers, options for tailings/waste rock disposal
and good road access. Grid power is inadequate for a mine so a high voltage line
would need to be brought in, likely from south where Xstrata's Las Bambas
project is under construction. The details will become clearer as work
progresses on a PEA targeted for the second half of 2013.
Panoro remains well-financed for 2013 with $14 million and about $5 million in
in-the-money warrants coming due at the end of December. The shares are
currently trading at $0.60, and with 176 million shares outstanding, the company
is capitalized at $106 million.
For more information, please visit the company's website www.panoro.com or
604-684-4246 or email email@example.com
The company's investor relations are handled by Barry Mire at Renmark Financial.
He can be contacted at firstname.lastname@example.org
For more information about Mackie Research or to obtain the full report on
Panoro Minerals, contact your nearest Mackie Research office. Their branches are
listed on their website at www.mackieresearch.com.
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