Dahlman Rose Upgrades Extorre Gold Mines (XG) to 'Buy' Following Positive Cerro Moro Site Visit

June 9, 2011 7:31 AM EDT
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Price: $4.28 --0%

Rating Summary:
    1 Buy, 0 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 22 | New: 54
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Dahlman Rose upgraded Extorre Gold Mines (NYSE: XG) to Buy. PT $14.69.

Dahlman analyst says, "Based on our analysis of publicly released drilling information, we believe that Extorre has the potential to at least double the current resource base at Cerro Moro. The latest NI 43-101 compliant resource estimate was published on 04/19/2010. Since then, mineralized zones such as Escondida, Gabriela, and Esperanza have been extended and better defined, and substantial new discoveries such as Zoe, Martina, and Carla have been announced. During our recent site visit, we had the opportunity to tour the various mineralized zones within the property. This opportunity helped corroborate our evaluation of Extorre’s expansion potential. The new resource update is expected during 3Q11."

For more ratings news on Extorre Gold Mines click here and for the rating history of Extorre Gold Mines click here.

Shares of Extorre Gold Mines closed at $10.65 yesterday.

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