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2/26/14

Canaccord manning the pumps again

Remember Canaccord's "Peak Gold" and "Peak Silver" calls? Remember how they priced in stupid numbers for the underlying metals then made extravagant target prices on their whole metals universe? Remember how moronic they looked afterwards and how the analysis team "decided to resign"? Well, it's like freakin' catnip to these dudes, anything for a slice of those bot deals right people? Here's today's missive from Can of Corn Nerve Centre, just in time for the PDAC fleshpress too. Oh how coincidentally lucky and fortunateration.
Subject: Exploration and Development - Rising gold price environment prompts target revisions - Gold price curve revised up 4-5% to a LT price of US$1,445
 *   Rising gold price environment prompts target revisions - Gold price curve revised up 4-5% to a LT price of US$1,445
Joe Mazumdar, 604.643.0272
Scott McLean,
John Kratochwil, 416.869.6592
Gold price curve revised up 4-5% to a LT price of US$1,445
At the time of our last review we revised our forward curve slightly lower as the gold price had only risen 4% year-to-date at the time. At the time of writing, the gold price has risen 11% year-to-date to ~US$1,340 per ounce. In an effort to keep our targets and recommendations up-to-date in the face of a changing market environment, we revised our gold price curve again. This revision was higher (4-5%) leading to a long-term (LT) forecast of US$1,445 per ounce versus our previous LT forecast of US$1,391.
Average upward revision of 15-18% in target prices with recommendations in tact
This resulted in a positive impact for the majority of our coverage universe with upward revisions in the target prices up to...(and it continues on and on and on)

At least real whores don't try to hide it.