Fundamental Research Raises Fair Value Estimate for American CuMo Mining from $1.45 to $3.28 per share

Fundamental Research Analyst Siddarth Rajeev has issued an updated research report on American CuMo Mining Corporation (TSXV: MLY, OTCPK: MLYCF).
As quoted in the report:

Highlights:

• American CuMo Mining Corporation (“CuMo”, “company”) entered into an agreement to acquire a 100% interest in the Calida Gold project in late 2016. The project is a historic producer and has a historic resource estimate of 1.35 million ounces (“Moz”) gold, 49.32 Moz silver and 461 Mlbs of copper, or approximately 3 Moz of gold equivalent. The acquisition involved low upfront costs, diversifies CuMo’s asset-base, and enhances its upside potential. Since our previous report in January 2016, the company has made significant progress relating to the viability of applying ore-sorting techniques to the CuMo project. Ore-sorting has potential to significantly reduce capital and operating costs of the project. Test results indicate improvement in molybdenum grades by 170%, and copper grades by 47%.
• The company recently entered into an arrangement with a Singapore-based investment firm for a financing of up to US$200 million, including up to US$100 million for the CuMo project and up to US$100 million for the Calida Gold project.
• A drill program is expected to commence at Calida next month.
• CuMo shares are up 350% YoY, from $0.08 to $0.36 per share.
• We have a BUY rating and fair value estimate of $3.28 per share.

Click here to gain free access to the Fundamental Research report
Click here for more information about American CuMo Mining Corporation (TSXV: MLY, OTCPK: MLYCF).