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De Grey has announced successful initial ore sorting results at its Toweranna deposit which demonstrate the technology’s amenability to sort ore, lower operating costs and increase production. This news reinforces our fair value estimate of A$0.35/sh (unchanged) and we believe a re-rating is likely in the near to medium term.
After a recent deep dive with management regarding the Marimaca Project, we believe Phase II drilling to date suggests Marimaca could grow significantly beyond our assumed resource doubling in our Base Case valuation. A larger 200Mt oxide resource at Marimaca could support a 40Ktpd stand-alone mine, producing ~100Mlbs of copper annually. Our preliminary model for a project of this scope implies a fair market value of C$0.26/sh; however, we maintain our base case of C$0.21 until we get more information.
RNC has released another set of results from its resource drilling program which continues to demonstrate strong grades and could be accretive in the coming resource update.
This news provides positive resource momentum for the company as it readies to resume production in H2/19. We note that the next phase of drilling
could provide exciting catalysts for the stock; however, the market remains fixated on the acquisition funding gap in the short-term.
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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