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North American Palladium has released positive Q1/19 results that beat our FCF estimates, despite some operational hiccups. More importantly, management had the confidence to boost its dividend to $0.10/sh (was $0.03/sh). While operational challenges impacted the quarter, the company was able to fully repay its debt and had the confidence to more than triple its dividend. This is expected to be a strong positive signal to the market. As a result of the company’s improved balance sheet, we have increased our fair value estimate to C$25.07/sh (was C$23.50/sh) suggesting 104% upside potential.
Atico has announced the end of its labor-strike and is resuming all regular activities including production and exploration drilling. This should allow the company, to get back to generating FCF from operations and testing the exploration potential of El Roble.
Our fundamental view is unchanged, we believe Atico is a low-cost producer with exploration upside that should generate significant free cash flow
providing the capital required for growth.
Blue Sky released positive step-out channel sampling outside of the Ivana deposit which provide evidence that suggests the current resource at Ivana has
the potential to materially grow. Blue Sky is in possession of a PEA stage uranium-vanadium resource within a potential district-scale project and could see a re-rating with further exploration success.
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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