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AVM Globe says Anvil Mining rated "buy" in new coverage
1 December 2010
Source: Canada Stockwatch
Anvil Mining Ltd (TSX:AVM)
Shares Issued 150,748,159
Last Close 11/29/2010 $5.13
Wednesday December 01 2010 - In the News
The Globe and Mail reports in its Wednesday, Dec. 1, edition that Anvil Mining retreated four cents to finish Tuesday on the Toronto Stock Exchange at $5.09. The Globe's Darcy Keith writes in the Eye On Equities column that Anvil Mining stock has a 52-week range of $2.44 to $5.81.
Clarus Securities analyst Mike Bandrowski says expectations are for Anvil Mining to start generating significant cash flow by mid-2011 as it starts copper production at its Kinsevere stage II plant in the Democratic Republic of Congo. Clarus Securities commenced coverage of Anvil Mining with a "buy" recommendation and a 12-month target price of $7.50 per share.
The Globe reported on Nov. 3, 2009, that Aurion Capital portfolio manager Craig MacAdam was keen on Anvil Mining. In the item Mr. MacAdam said: "Kinsevere mine has been financed and will be a world class mine. An ownership review has been completed with the DRC government, unlike First Quantum, Lundin and Freeport." Anvil Mining stock was then trading at $3.01. The Globe's Richard Blackwell identified Anvil Mining stock on Nov. 18, 2008, as one of worst performers on S&P/TSX composite. Anvil Mining stock was then worth 68 cents.
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