On Nov. 25, 2010 , Stonecap securities issued a recommendation on Premier Gold..
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Premier was at $6.54 and they initiated coverage with an Outperform, Speculative Risk recommendation with a target of $ 8.00..

Their estimate contained an "Asset Valuation " for the Hardrock Open Pit at 1.5 million ounces total and 1.05 million ounces attributed to Premier's share ( 70 % ) @ $ 200 per ounce for a total of $1.92 per share.
It also contained an asset value for the Hardrock Underground of 1.03 million ounces and Premier's share of this at .72 million ounces @ $200 for a total of $1.31 per share.

This recommendation was done last year and Stonecap's total calculation for the Hardrock Project 's Value was $ 3.23 per share

My conclusion...

Since.. Stonecap's estimate was done last year and since the Hardrock Resource has now doubled , and is at higher grades , I now suggest they will very soon revisit and revise their targeted forecast estimate HIGHER..

I believe they can easily add another $2.50 per share for a New Hardrock Total of $ 5.73 and this could result in a New Premier Target of around $10.50 per share.
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Remember that my estimate is only for Premier's 70 percent share
and GRC 'S 30 percent share could also increase by about the same 77 percent value.


Keep on Drilling...IMHO