14:34 | 21.07.2010
eResearch Initiating Report: DURAN VENTURES INC.
Duran Ventures is active in mining-friendly Peru and owns 100% interests in
seven base metals properties, all at various stages of exploration and
development drilling, and none subject to underlying royalties or government
restrictions or payments.
But the Company’s heart is set on developing its recently-acquired gold
property (Minasnoic), which it purchased in a government auction by outbidding
Barrick Gold Corporation and another interested private party. Barrick
had conducted considerable exploratory work on the 1000-hectare property.
In order to concentrate on Minasnoic, Duran is interested in joint-venturing the
development of its base metals properties, and it just so happens that these
properties lie close to some of those of mining giant Minera Penoles de Peru
S.A. (see Map 2, page 13), which recently made a major discovery
(Racaycocha Project). This could prove interesting.
We recommend Duran Ventures Inc. (“Duran” or the “Company”) as a
Speculative Buy for long-term, risk-tolerant investors. Our 12-month Target
Price for the shares is $0.28.
Duran Ventures Inc. is a Canadian-based junior exploration and development
company that is focused on large-tonnage mineral deposits in Peru. Its flagship
project is its past-producing Aguila copper-molybdenum property in the region
of Ancash, in northern Peru.
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