Avion Gold, $2.00, symbol AVR on Toronto (Shares outstanding: 406.4 million; Market cap: $780.9 million; www.aviongoldcorp.com), is a Toronto-based gold producer.
Avion is focused on expanding its Tabakoto mine in Mali; advancing the exploration/development stage Kofi project (also in Mali); and developing its Hounde project in Burkina Faso.
The company expects to produce 100,000 ounces of gold this year, rising to 200,000 ounces per year starting in 2012.
In the three months ended March 31, 2011, Avion’s revenue rose 41.2%, to $27.5 million, from $19.5 million. (All figures except share price and market cap in U.S. dollars.) The company earned $0.02 a share in the latest quarter, compared to nil per share a year earlier. Cash flow per share rose to $0.03 from $0.02.
Avion trades at 10.0 times this year’s forecast cash flow of $0.20 a share. The company’s operations in west Africa add political risk, but the stock is okay for aggressive investors to hold.
hold.
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