TSXV:AZC.P - Post by User
Post by
deismanon Dec 13, 2013 1:49am
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Post# 22001870
Draft ROD now in hand..... SP on its way to $5.00
Draft ROD now in hand..... SP on its way to $5.00
Augusta Resource Announces Publication of Rosemont Draft ROD Approving Preferred Alternative
TORONTO, Dec. 12, 2013 /CNW/ -
Looks like things are falling into place as noted in TD's November 22 Action notes. Hopefully we're on our way to the $5.00
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From TD's Daniel Earle & Shey Ylonen,
................... We understand the company has subsequently developed a new environmental, social and cultural mitigation
program to address these concerns. Together with the anticipated release of the final Environmental Impact
Statement (EIS) next week and the draft Record of Decision (ROD) in mid-December, the EPA should then be
in position to work with the United States Forestry Service (USFS) and ACOE to finalize mitigation planning
and issue the 404 Permit by mid-2014.
We believe at current share price levels, the company’s stock has priced in a worst-case scenario with respect
to the project’s near-term permitting outlook, trading at 0.18x NAV12% compared to the developer group
average of approximately 0.50x. We believe this level of discount is wholly unwarranted and view the current
share price as an attractive risk/reward opportunity. We maintain our 12-month target price of C$5.00 and
reiterate our SPEC. BUY recommendation.