The Globe and Mail reports in its Friday, Sept. 18, edition that Stifel analyst Ralph Profiti is keeping his "buy" call on Eldorado Gold intact. The Globe's David Leeder writes in the Eye On Equities column that Mr. Profiti jacked his share target up by $5 to $70. Analysts on average target the shares at $62.53. Mr. Profiti upgraded his share target following a visit to its Skouries copper-gold mine in Greece. He says in a note: "We came away thoroughly impressed on the build-quality, state of operational-readiness and technology-enablement achieved at Skouries during our site visit. First copper-gold concentrate produced on Sept. 8 reinforces our view of a near-fully derisked flowsheet through to concentrate thickening, which remains on the critical path. Stockpile coverage has been upgraded to 4.6Mt at 1.09/t Au or seven months of processing and potentially extending high-grade feed into 2027. We believe grid connection is imminent (before end of September) with temporary diesel power generation capacity lifted to 36MWe as a contingency adequately run Skouries at 70-per-cent capacity. While on-site, the tailings conveyance chain from the filter building into the Karatza Lakkos Valley was commissioned."
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