It was a gold standard from brokers notes supplied by Dundee Capital on Wednesday with Sabine Gold & Silver Corp (TSE:SBB) recommended a Buy with share price target of C$2.10.
Sabina released positive metallurgical optimisation results which point to the potential reduction of both capital and operating costs, while increasing recoveries 2-3%.
"Today’s results support our modeled scenario which includes a modified gravity-flotation process, resulting in the inclusion of the 2MM oz George deposit to the mine plan, increasing production by 50% to +300k oz/yr," Dundee said.
Sabina shares closed 0.7% lower at C$1.50 on Wednesday.
Meanwhile, New Gold Inc (TSE:NGD) was recommended as a Sell with a share price target of C$4.00 by Dundee.
"Over the past year, New Gold forecasts have outlined changes at its cornerstone Rainy River development project (38% of NAV; Ontario), which has negatively affected our valuation of the project over time. In conjunction with our view of Rainy River outstanding risks and a recent material expansion in New Gold's relative valuation, we are lowering our New Gold rating to Sell from Neutral," Dundee said in a note.
New Gold shares closed down 4.4% at C$4.96 on Wednesday.