The Conversation (0)
Fundamental Research has published an analysis on American CuMo Mining Corporation (TSXV:MLY, OTCQX:MLYCF), and has given the Company a BUY rating.
As quoted in the article:
Investment Highlights
- In December 2013, American CuMo Mining Corporation (the “Company”, “MLY”) announced its plans to raise up to US$25 million by issuing up to 100 units of its subsidiary, Idaho CuMo Mining Corporation. Each unit will consist of an unsecured promissory note (@6% p.a. payable semi-annually; term – 5 years), and the right to enter into a silver purchase and sale agreement.
- The company continues to successfully divest its non-core assets to focus on the CuMo project.
- In August 2013, the United States Forest Service (“USFS”) released a revised Environmental Assessment concluding that exploration work at CuMo will have no significant impact on the
- environment.
- The Boise County Board of County Commissioners and the Idaho Department of Commerce have expressed support for the exploration program.
- MLY management is budgeting $100 million over the next two years for an environmental impact statement (“EIS”), and to complete a feasibility study.
- The company is in search of a new CEO / President.
Fundamental Research Corp. (FRC) is an independent equity research firm. They provide subscribers with the highest quality fundamental research on smaller cap companies from a value-based perspective. INN has reported on FRC coverage since 2011 and receives compensation for new subscribers referred by INN.