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Coro announced a third batch of drilling results from its Atahualpa property and is expanding its drilling campaign by 4,000m on the back of continued drilling success.
We continue to believe that Coro is a viable copper heap leach story that is going to expand materially through the drill bit and these results support
We believe Aquila Resources (TSX:AQA; OTCQB:AQARF) is worth C$0.36/sh based on applying a 0.60x multiple to our initial NAVPS10% estimate of C$0.60/sh. Aquila is developing the high-margin Back Forty Au-Zn-Cu project in Michigan and is poised for a re-rating as it transitions from developer to producer. Additionally, the FCF expected from this project once in production, is likely to attract mid-tier producers looking to bolster their balance sheets and production profiles. We believe investors stand to benefit from the ongoing transition from developer to producer, as manifested by project de-risking with the potential to be taken out at a substantial premium to the current share price in the medium-term.
With strong operating results already reported for January and February, Gran Colombia is likely to deliver record production in Q1 2019, allowing them to start the year well ahead of guidance. With this production increase being driven by better than expected grades, we also expect better than guided costs and strong financial results in the quarter. We believe the market has not priced in the company’s financial and operational turnaround and we expect Q1 operating results to provide a positive catalyst to re-rate it towards peers.
We believe that recent share price underperformance (down 18%, GDXJ down 4%), driven by the disclosure of a Canada Revenue Agency (CRA) proposals recently regarding prior flow through expenditure has created a buying opportunity in Seabridge. The underperformance implies as impact of C$157M, while the maximum liability only appears to be C$14M. This news does not impact our view, that Seabridge is one of the few, large scale Au-Cu projects that majors are chasing and we expect Seabridge to deliver a JV to fund project construction in the near-term.Highlights:
Novo has announced an increased resource for its Beatons Creek project in Western Australia which we believe is of sufficient scale to stand alone. We now believe Beatons Creek is worth C$1.40-1.70/sh (was C$1.10-1.40/sh). With an increased resource at Beatons Creek, which underpins our current valuation, the market has yet to fully price in the upside of Karratha, Egina and wider Pilbara projects.
Red Cloud Klondike Strike Inc. is registered as an Exempt Market Dealer (EMD) in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, New Brunswick, Nova Scotia, Prince Edward Island, Newfoundland & Labrador, and Yukon.
Red Cloud Klondike Strike Inc. connects mining companies with suitable investors that qualify under available regulatory exemptions. For example, in Canada, according to National Instrument 45-106, Prospectus and Registration Exemptions. Similar laws and regulations apply in other jurisdictions. Companies presented on this website are considered to be highly speculative and, as such, are suitable only for purchasers who can tolerate the highest level of risk including the loss of their entire investment.
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