Opinions
Andrew Cook
West Timmins Mining Inc
WTM-T
BUY
Aug 20, 2009
Lots of room to go on this company. Had some great drill results and looks like they have a significant resource that could get significantly larger. Partnered with Lake Shore Gold (LSG-T). Lake Shore is actually producing at the moment so this would be a more conservative way to play it.
$2.460
Stock price when the opinion was issued
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TOP PICK
Recently hit 83 metres of 12 3/4 grams per ton gold, which is one of the 5 best holes in Canada over the past 50 years. If they can get those grades lower down and expand their resources, it is going to be a massive opportunity. They are smack dab in the middle of the Timmins Camp. Think they will get taken over before they find more gold.
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SELL
Performed exceptionally well and is now merging with Lake Shore Gold (LSG-T). Lake Shore is paying $300 million for 40% of a company some good drill holes but that they already own 60% of. Market cap of the 2 companies is about $1 billion, which is a pretty steep market cap. Can’t see a lot of upside.
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