The Globe and Mail reports in its Wednesday, Sept. 2, edition that Stifel analyst Juan Herrera has commenced coverage on Aztec Minerals with a "speculative buy" ranking and a 61-cent share target. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at 54 cents. Mr. Herrera says in a note: "Aztec trades at an implied $34 (U.S.)/oz on our combined attributable exploration target, roughly half of the $66 (U.S.)/oz peer median, for two North American precious-metals discoveries that we believe are further advanced than valuation implies. In our view, the discount reflects the absence of a compliant resource rather than the quality of the ground and that gap begins to close in Q4 when APEX Geoscience delivers maiden NI 43-101 resource estimates on both projects. Our illustrative long-term scenario at Tombstone alone implies $2.32 (U.S.) per share attributable, against which our target applies a substantial risk discount."