Minera Andes* (MAI : TSX : $0.97), Net Change: 0.11, % Change: 12.79%, Volume: 1,553,939
Minera Andes: Its San Jose operation (49% MAI, 51% Hochschild) in Argentina continues to ramp up to full production. H1/10 is believed to have been the weaker half of the year as operational improvements were implemented, leading to the second half of the year carrying the better overall production. For FY10, Canaccord Genuity is expecting 192,000 oz AuEq from San Jose (49% MAI). This translates to just under 100,000 oz AuEq net to Minera Andes that at current Au Ag prices could translate to over $50 million in operating cash flow. Based on Canaccord Genuity’s price to cash flow (2011) basis Minera is trading at about 4.0x versus many peers that range from 8x to 15x cash flow. The company also owns 100% of a large Cu porphyry system (Los Azules) and maintains an excellent portfolio of Au Ag exploration ground in Argentina. Note: This portfolio is in the vicinity of Andean"