08:20 AM EDT, 06/28/2018 (MT Newswires) -- Detour Gold Corporation (DGC.TO), while admitting that it is open to strategic alternative ideas, is resisting shareholder pressure to find a buyer immediately, according to BNN Bloomberg TV, which noted that Scotiabank has upgraded the stock on the belief that it is only a matter of time before the company does come in to play. BNN cited Scotia as saying the latest mine plan revealed by DGC is irrelevant because investors like them have lost confidence in management's ability to accurately forecast operating profit. It cited Scotia as saying potential suitors will ignore the life of mine plan and make their own assessments.

Overnight Wednesday DGC reported the details of its updated life of mine plan for its Detour Lake operation located in northeastern Ontario. According to a statement, the 2018 LOM Plan represents an "intensified commitment to optimize the Detour Lake operation."

Among highlights, the LOM average annual gold production is estimated at approximately 659,000 ounces, LOM pre-tax cash flows are estimated at C$8.4 billion and after-tax NPV is seen at C$3.45 billion, which equates to near $19.70 per share.

"Detour Gold is moving forward on an achievable plan to create long-term value for all of our shareholders, with whom we have always maintained an open dialogue. Our Board has made important changes and is committed to making further changes, as necessary, to ensure Detour Lake becomes a consistently profitable operation," said Alex Morrison, Board Chairman. "With our new mine operating plan in place and a team led by our new Chief Operating Officer, Frazer Bourchier, to execute it, we are confident that we are on track to position the company as a leading intermediate gold producer. Both management and the Board are highly focused on operational improvements. The impact of the changes we are making will not be evident immediately, but we intend to deliver consistent execution under Frazer's leadership."

Price: 11.56, Change: +0.12, Percent Change: +1.05