TSX:CXB - Post Discussion
Post by
Ridgeback on Mar 29, 2024 10:19am
National Bank Says!
National Bank Financial on Thursday reiterated its sector-perform, speculative-risk, rating on the shares of Calibre Mining (CXB.TO) and its C$2.00 price target after the company reached a US$60 million prepay contract for 27,600 ounces of gold from its Valentine gold project in Newfoundland with Asahi Refining USA, while hiring a firm to oversee commissioning of the mine, which is expected to be complete in the first half of 2025.
"Before market open, CXB announced (i) a gold prepay and (ii) a commissioning contract for the Valentine project ... Strengthens CXB's balance sheet in a non-dilutive manner, while further de-risking the internal funding of Valentine development. Commissioning contract lends for ramp-up de-risking. First gold reiterated for H1/25. Overall, we ascribe a neutral bias and look to a Valentine update including a refresh on capex," analyst Don DeMarco wrote.
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