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Donner Metals Ltd V.DON

Sector: Metals & Mining | Sub-Sector: Industrial Metals & Minerals
Alternate Symbol(s): DONFF

Donner Metals Ltd., is involved in the acquisition, exploration and development of zinc and copper properties in Quebec. Its project include the Matagami Project.
Price: $0.155 | Change: +$0.025 | % Change: +19.23%
Volume: 4,561 | Day High/Low: N/A/N/A | 52 Week High/Low: 9.00/0.13
Donner Metals Ltd > Haywood..............
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Haywood..............

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4 stars
June 26, 2013 05:40 pm

Haywood has dropped its target price from 30 to 10. 
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RE:Haywood..............

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1.5 stars
June 26, 2013 05:48 pm

It doesn't seem credible. They started dumping on monday then issue this today.

Their previous PT was $0.30.  Even if all the shares are bought it would result in 35% dilution.  Which would give a PT of $0.195 cents.  They are giving the PT a 66% haircut. Nothing else has changed. I guess they are giving an additional $0.095 discount for not agreeing with the dilution.
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RE:Haywood..............

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2.5 stars
June 26, 2013 06:08 pm

Well-put, nothing else has changed with the project. The Haywood report specifies that this is based on lower than expected zinc prices. 
" The recent financing news follows three other ‘final’ financings completed since March 2012 that were designed to fund the Company to production. However, we are now under the impression that unfortunate circumstances (namely, a languishing zinc price) have left Donner facing another funding gap ahead of generating positive operating-cash flow at Bracemac-McLeod."

That final financing by Quebec institutions in Feb was done when zinc was $0.99 and copper $3.75. Times are tough. It's just too bad Donner didn't get the "in production" re-rating that Haywood predicted before now. 
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