He continues to value the shares of SCZ based on a 0.90x multiple to his estimate of NAVPS (7.5%-10%, US $23/oz Ag). n
Eric Hoesgen and Dennis Hoesgen can be reached at 604-643-7705 or
HIP@Canaccord.com. Dennis Hoesgen and Eric Hoesgen are Senior
Investment Advisors with Hoesgen Investment Partners (HIP) at
Canaccord Genuity wealth management, a division of Canaccord
Genuity Corp, Member-Canadian Investor Protection Fund. The
information contained in this article is drawn from sources believed
to be reliable, but the accuracy and completeness of the information
is not guaranteed, nor in providing it does HIP, Canaccord Genuity
Corp, or its subsidiaries, or affiliated companies, assume any liability.
This information is current as of the date appearing in this article, we
do not assume any obligation to update the information or advise on
further developments relating to these securities. This report should
not be considered personal investment advice or a solicitation to buy or
sell securities. Canaccord Genuity and holdings of its respective directors, officers and employees and their associations, from time to time
may buy or sell any securities mentioned herein. The views expressed
are those of the authors and not necessarily those of Canaccord.
SEPTEMBER 2013
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