Veris Gold Corp - A transformative H2 beckons

Oct 11th 2012 - Edison Investment Research today published a report on Veris Gold Corp entitled "A Transformative H2 Beckons". In summary, the report says:

Veris Gold Corp (formerly Yukon-Nevada Gold) has continued to revitalise its Jerritt Canyon gold mine in 2012, with extensive infrastructure programmes primarily focused on modernising its refractory ore roasting plant and mill facility. This work has caused Veris to reduce its 2012 production target from 140-150koz to c 120koz due to the deficient design of its primary bucket elevator installed in January (this has been replaced with a superior double-conveyor system from existing plant inventory). In contrast, quarterly production metrics now point to a turnaround, with potential for the rest of 2012 to be cash-flow positive. Adjusting for its 1:10 share consolidation, our revised valuation is now US$7.04/share (at a 10% discount, US$1,600/oz for 2012 and US$1,676/oz from then) and...