TMAC Resources Inc. T.TMR

Metals & Mining Industrial Metals & Minerals

TMAC Resources Inc is an industrial metals and materials company. The business acquires, explores, and evaluates mineral properties. Its lone business segment is Mining; this segment is engaged in the exploration and development of precious metal resources, primarily gold. The company generates the vast majority of its revenue in Canada. TMAC Resources' primary mine is located in Hope Bay, in the Kitikmeot region of the western Nunavut Territory. TMAC mines for gold resources and inferred minera

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TMAC Resources Inc.

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Post by Wineauxon Jul 10, 2018 12:03pm

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Post# 28293459

RBC Upgrades to OUTPERFORM - $10 Target

Upgrade to Outperform: Coming in from the cold with Hope Bay near inflection point

Our view: We upgrade TMAC to Outperform as we believe the company's shares offer an improved risk/reward proposition as operational gains take hold. We believe the company's shares offer a compelling value given Hope Bay is a long-life operation with significant exploration potential in an attractive jurisdiction, noting operating results are likely to remain variable in the near term.

Upgrade to Outperform: Coming in from the cold with Hope Bay near inflection point

Key points:

1)

Operating gains continue with line-of-sight to design rates

2) Improving cash flow key to reducing balance sheet risk

3) Fundamental attributes not priced into shares

We expect TMAC to ultimately garner a premium valuation relative to other single-asset producers given the asset's long-term potential, exploration upside, and location in an attractive jurisdiction.

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Mid-year review: How has gold been performing?