Steve Parsons, National Bank Financial (12/11/12) "Detour Gold Corp. closed a $106M bought-deal offering. . .this provides a more significant working capital buffer to support the mine ramp-up period. We believe this buffer to be sufficient to manage production hiccups/delays that are typical on startup; moreover, the still-in-progress ~$100M credit facility is expected to act as an additional buffer. . .as at Nov. 30, 2012, construction of Detour Lake was 97% complete with first production still on track for January. . .we expect steady-state production by late 2013 and steady-state cash costs by mid-2014. . .we are reiterating our Outperform rating and $38 target price."