CRK.TO 1.15 CD or CROCF 1.12 USD. Crocodile Gold is a Canadian co. with mines located in Australia. I'm Initiating as a Strong Buy with a 12 month target of 4.00 USD. They were severely punished by the proposed mining super tax in Australia that now looks to be repealed or modified much lower.
5M oz's proven gold currently valued at $50 per ounce and on track to prove up another 5M oz's.
Commercial Production declared 6/1/2010 with 100,000 ounces projected for 2010 at cash costs of ~$700 per ounce ramping up to 200,000 ounces 2011 with cash costs of ~$600 per ounce. Eventual projection of 500,000 ounces au per year.
Share structure at 6/16/2010: Common Shares Issued & Outstanding 203,400,632 Warrants 22,449,034 Options 9,835,916 Fully Diluted 236,685,582
Recently completed a share offering at 1.30 per share CDN, raising 23 Mil CDN.
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