Meridian rated ‘hold’
Meridian Gold has excellent prospects
but carries higher political risks than similar
company, said a research report from
UBS Warburg last week.
The investment company rated
Meridian’s shares a “hold” as it began
coverage of the Reno-based mining
UBS Warburg report said Meridian’s
key mine, El Penon in Chile, and it key
propsect, its Esquel property in
Argentina, are very low-cost producers.
“Meridian has zero debt, and with cash
balances of $125 million it should be able
to finance Esquel over the next 18 months
without any debt,” the investment
Still, UBS Warburg said the political
risks associated with Meridian’s South
American property dampen its enthusiasm
for the stock.
It said, too, that Meridian’s stock price
about $19.75 a share last week give
it a high valuation compared to similar
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