FIRESTEEL RESOURCES INC V.FTR

morning coffee (canaccord)

[flapjackjane]

Jeff Callaway, a Canaccord Broker in Calgary had this to say in his daily "Morning Coffee" Newsletter.

"Wonderful timing I have: Firesteel made a shareholders update today which I am copying below. In short, everything is on track, they are well funded, and the team is experienced to handle the ramp up of production which remains on track. I’ve also attached the Northern Miner article again. The technical report is now filed on Sedar and you can read the report in its’ entirety at the following link, (warning: it’s 239 pages): https://www.sedar.com/DisplayCompanyDocuments.do…
Page 37 shows a more detailed breakdown of the economics. Note that the undiscounted cash flow is $176 million USD just on the current resource which Firesteel is confident they can significantly expand. Assuming warrants are exercised, and preferreds and convertible debentures are converted to stock there will be about 170 million shares outstanding. That would imply, at a $1.30 exchange rate, ($0.769 on the inverse), a value per share of $1.35. The stock is $0.155 today."

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sedar.com

[trawler]

hello Flapjack, yes indeed congratulations are in order for the FTR board on the acquisition of the Laiva Mine. it appears to be a steal, great news and will result in some well deserved profits for the long and faithful FTR share holders.     On a cautionary note be wary of Jeff Calloways opinions, he is a Cannacord pumper of epic proportions.Let's hope that his prognostifications

[6ixMining]

Jeff Callaway is not the only one who thinks it is undervalued. https://www.fairfieldcurrent.com/2018/08/07/firesteel-resources-ftr-given-a-c0-30-price-target-at-fundamental-research.html