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

American-CuMos

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).

Get the Latest Copper Investing Stock Information

Get the latest information about companies associated with Copper Investing delivered directly to your inbox.

Copper
Copper - Mine Development
Copper - Prospecting and Exploration
Copper - Resource Definition/Pre Feasibility
Copper - Resource Expansion/Feasibility Study/PEA
Copper- Production/Mining
Other Companies

By selecting company or companies above, you are giving consent to receive email from those companies. And remember you can unsubscribe at any time.

Comments

Leave a Reply