Lydian International
Lydian International Ltd. is a diversified UK mineral exploration and development company, with expertise employing “first mover” strategies in international emerging environments.
Currently the Company is focused on Eastern Europe in the Western Balkans and the Caucasus regions, advancing a pipeline of highly prospective precious and base metal projects. In the Caucasus region Lydian is operating an exploration joint venture with Newmont Overseas Exploration Ltd. a subsidiary of Newmont Mining Corporation.
The Company's two flagship projects are a newly discovered gold project at Armulsar in Armenia, and an advanced zinc, lead, silver and gold project at Drazhnje in Kosovo.
Lydian's two largest share holders are Newmont Mining Corporation and the International Finance Corporation (part of the World Bank Group).
FD Capital ups target price for Minera IRL, Highland Gold, Hambledon Mining and Lydian Resources
Broker Fox-Davies Capital has increased the target prices, as a result of increased metal prices, and has reiterated its recommendations for Minera IRL (AIM: MIRL), Highland Gold (AIM: HGM), Hambledon Mining (AIM: HMB) and Lydian Resources (TSX-V: LYD).
Fox-Davies said that Highland Gold’s Novoshirokinskoye mine in Russia, which is essentially a lead-zinc mine, adds additional up-side compared to the other gold companies it covers. The broker has increased its price target for Highland Gold to £1.19 per share from £1.03.
The broker has increased its price target for South American operating Minera IRL from £0.90 to £1.06 per share, retaining its 'buy' stance on the precious metal miner which recently completed the acquisition of Hidefield Gold PLC (AIM: HIF). Fox-Davies maintained its guidance for Hambledon Mining as a 'hold, whilst increasing its price target from £0.13 per share to £0.16.
For Toronto Ventures listed Lydian Resources, Fox-Davies is targeting C$1.76 per share, increased from C$1.39 per share. Additionally the London based stockbroker said its current valuation is based on the junior’s 1 million ounce gold resource, which they believe has been expanded significantly by on-going exploration work programme. Lydian’s main project is the Amulsar gold discovery in Armenia and an advanced zinc, lead, silver and gold project at Drazhnje in Kosovo. Lydian remains a 'buy'.
Other Lydian International articles
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01/03/10 Lydian International takes full ownership of 1.4 million ounce Amulsar Gold Project
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11/11/09 Lydian International identifies new gold prospect and potential resource at Amulsar project in Armenia
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03/11/09 Lydian heap leach results suggest attractive economics for Amulsar Gold Project
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12/08/09 Lydian cuts wide zone of gold mineralisation 500 meters south of current resource
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17/03/09 Lydian International pushes back the frontiers
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06/01/09 Proactive Investors Talks to Tim Coughlin, President & CEO of Lydian International
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03/11/08 Lydian International's Amulsar Discovery delivers more excellent results
Other Lydian International news
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03/03/10 Fox-Davies Capital maintains 'buy' rating for Lydian Intl after Newmont buyout
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24/11/09 Lydian reports final gold results from successful 2009 Drilling Program at Amulsar in Armenia
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06/11/09 Lydian International raises C$2.2 mln, mainly from Macquarie Bank private placing
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14/10/09 Fox-Davies remains bullish on Lydian as Amulsar gold project ‘takes shape’
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22/09/09 Lydian announces promising NI 43-101 Inferred Resource at Drazhnje project, Kosovo
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09/09/09 Lydian says results from drilling at Amulsar indicate potential for additional resources
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23/06/09 Lydian begins drilling program at Amulsar gold discovery in Armenia
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07/05/09 Lydian gets 25 year mining license for Amulsar gold project in Armenia
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31/03/09 Lydian says heap leach study for Amulsar gold discovery, Armenia, suggests low costs
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18/03/09 Lydian to get further IFC investment of CDN$1.4 mln
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