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IDM Mining Ltd. (TSXV:IDM) announced it has finalized the Application Information Request (AIR) for its Red Mountain project. This is an important step in the permitting process as the AIR document determines the required contents of the Environmental Impact Statement (EIS). IDM expects to submit the completed EIS in Q2 2017. IDM continues to trade …
IDM Mining Ltd. (TSXV:IDM) announced it has finalized the Application Information Request (AIR) for its Red Mountain project. This is an important step in the permitting process as the AIR document determines the required contents of the Environmental Impact Statement (EIS). IDM expects to submit the completed EIS in Q2 2017. IDM continues to trade at a discount to peers on a P/NAV basis (0.52x vs. peers at 0.59x) and on a per ounce basis (C$47/oz vs. peers at C$56/oz). We expect the pending drill results and feasibility study for Red Mountain (Q2 2017), coupled with the project’s ongoing de-risking (engineering and permitting), should help close the valuation gap to peers.
Derek Macpherson | VP Mining Analysis
Victoria Ellis Hayes | Associate
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IDM Mining Ltd – TSXV:IDM – 1,2,3,4
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