Sector Expert: Raj Ray

Desjardins Securities

Image: Raj Ray

Raj Ray is Vice President, Equity Research, Metals & Mining at Desjardins Securities. He previously served as an analyst with National Bank Financial and GMP Securities. He has also worked in investment banking with Dundee Capital Markets on equity financings and M&A transactions for small- to mid-cap gold and base metal companies. Prior to this Ray was a process engineer at Vedanta Resources Plc for four years. Ray holds a Bachelor in Metallurgical Engineering from India and a Master of Business Administration in finance from the Schulich School of Business. He is also a CFA charterholder.



Recent Quotes

"We believe NG's $98M is sufficient to complete permitting of Donlin."

— Raj Ray, National Bank of Canada (4/4/17)
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"Recent financings allow SEA to proceed with ongoing exploration."

— Raj Ray, National Bank of Canada (3/30/17)
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"SEA's KSM project provides attractive optionality."

— Raj Ray, National Bank Financial (2/16/17)
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"We view NG as a long-dated option on the gold price that offers investors exposure to a large-scale open-pit deposit."

— Raj Ray, National Bank Financial (1/25/17)
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"The importance of SA's KSM project lies in its significant scale (one of the largest undeveloped copper-gold deposits)."

— Raj Ray, National Bank Financial (10/7/16)
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"NG's Donlin Gold permitting continues to advance."

— Raj Ray, National Bank Financial (10/4/16)
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"We expect the results of the upcoming PEA will include a positive updated resource estimate at SEA's KSM gold-silver-copper-Molybdenum project."

— Raj Ray, National Bank Financial (9/19/16)
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"NG continues to maintain a strong financial position, expected to be more than sufficient to complete permitting of Donlin Gold."

— Raj Ray, National Bank Financial (6/28/16)
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