CANDENTE COPPER - NORTE VALUED AT $1.47/SHARE MINIMUM
CANDENTE COPPER - CANARIACO NORTE VALUED AT $1.47/SHARE
Candente Copper Canariaco Norte vs Josemaria
Josemaria - Argentina
Copper Annual Analysis
Cu/Tonnes/year 130,000
Cu $ per Tonne $9000
Cu Annual Value $1,170,000,000
Gold Annual Analysis
Au/Oz/year 225,000
Au $ per Oz $1700
Au Annual Value $382,500,000
Silver Annual Analysis
Au/Oz/year 1,000,000
Au $ per Oz $22
Au Annual Value $22,000,000
Mine Life: 19 years
Strip Ratio: 0.98:1
Total Mine Life Value (USD) $29,915,500,000
Bought Out at: $1.60/share
Est. Shares Outstanding: 390,000,000
Value Buyout Price: $624,000,000 (CDN)
Candente - Canariaco Norte ONLY – Peru
Copper Annual Analysis
Cu/Tonnes/year 118,000
Cu $ per Tonne $9000
Cu Annual Value $1,062,000,000
Gold Annual Analysis
Au/Oz/year 39,000
Au $ per Oz $1700
Au Annual Value $66,300,000
Silver Annual Analysis
Au/Oz/year 911,000
Au $ per Oz $22
Au Annual Value $20,042,000
Mine Life: 22 years
Strip Ratio: 0.98:1
Total Mine Life Value (USD) $25,263,524,000
Implied Buyout Offer: $1.60/share
Est. Shares Outstanding: 284,000,000
Value Buyout Price: $454,400,000 (CDN)
Discounted Buyout Price: $418,048,000 (CDN) – discount of 8% to Josemaria
Discounted Buyout Price: $1.47/share
SUMMARY:
Josemaria was bought out for $625,000,000 (CDN) by Lundin Mining on December 20, 2021
CANDENTE COPPER HAS AN IMPLIED FAIR BUYOUT VALUE OF $420,000,000 (CDN) OR $1.47/SHARE (8% discount to Josemaria)
CANDENTE COPPER ALSO HAS MAJOR UPSIDE POTENTIAL THAT COULD GREATLY INCREASE ITS IMPLIED VALUE:
-DNT has another deposit next to Norte called Sur, which could be as big as Norte (9 billion pounds of copper)
-DNT also has another possible deposit next to Sur called Verde, which could be another monster of copper
-A revised PEA is coming soon in early 2022 which could greatly improve Norte's economics
-Pension Funds are ready to provide funding and support development of Canariaco
-Communities of influence support development of Canariaco
-Major Investor: Fortescue Metals Group holds 19.9% of Candente
-DNT is getting a lot of attention
-RFC Ambrian: Canariaco Norte in top 10 of 23 Projects with potential to involve third party M&A
-Haywood: Canariaco Norte one of 18 assets selected as likely to be considered by Majors looking to Acquire
-Deutsche Bank: Canariaco Norte identified as one of 3 projects required to meet the upcoming copper supply-demand gap
-Goldman Sachs: Canariaco Norte identified as one of the top 84 copper projects worldwide
-Canariaco Norte has the 10th largest late-stage copper resource in the world
-Canariaco Norte contains the 5th highest copper grade late-stage copper resource in the world
Current Share Price: $0.18/share (only $45M MCAP)
Minimum Implied Target Price: $1.47/share
Minimum Implied Value: $420,000,000 (does not take into account the upside potential noted above)*
Minimum Upside: $1.30/share (8 x current share price)
* Based on resources and economics, Candente Copper could have an implied value of $600,000,000 or $2.10/share