The Globe and Mail reports in its Wednesday, Dec. 17, edition that Scotia Capital's Eric Winmill started coverage on Meridian Mining with an "outperform" recommendation and a $2.50 share target. The Globe's David Leeder writes that analysts on average target the shares a $2. Mr. Winmill says in a note: "The company's flagship project, Cabacal, is a prefeasibility-stage gold and copper project in Brazil. In our view, Cabacal represents a highly compelling gold/copper project with robust economics. A recently released prefeasibility study (PFS) at Cabacal outlined an 11-year mine life producing 141 koz gold-equivalent (AuEq) ounces per year (or 178 koz AuEq per year in the first five years), with an after-tax NPV 5 per cent of $984-million based on gold at $2,119/oz and copper at $4.16/lb. Meridian has identified several potential upside opportunities at Cabacal that could further improve project economics. Meridian has identified several potential upside opportunities at Cabacal that could further improve project economics. These include potential optimization of the current flowsheet at Cabacal, potential to grow resources along strike and at depth at Cabacal, and ongoing exploration at the nearby Santa Helena zone."