Analyst Actions: Canaccord Genuity Raises Nevada Copper Price Target to $7.90
Nevada Copper Corp. (NCU.TO) is now planning to develop its Pumpkin Hollow copper project as an open pit and underground mine feeding a single mill, with production targeted as early as 2015, the Globe and Mail reported.
Canaccord Genuity analyst Wendell Zerb reportedly commented in a research note today "This new scenario potentially simplifies project development while also potentially improving project economics by starting a large 60,000 ton-per-day operation by as much as two years sooner than previously contemplated, and reducing overall capital costs."
Canaccord Genuity raised the price target by 60 cents to $7.90 and maintained a "speculative buy" rating.
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