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Great Bear Resources Ltd. GTBAF

Great Bear Resources Ltd. is a Vancouver-based gold exploration company focused on advancing its 100% owned Dixie project in Northwestern Ontario, Canada. A significant exploration drill program is currently underway to define the mineralization within a large-scale, high-grade disseminated gold discovery made in 2019, the LP Fault. Additional exploration drilling is also in progress to expand and infill nearby high-grade gold zones, as well as to test new regional targets.


OTCQX:GTBAF - Post by User

Post by Ivorygullon Dec 10, 2021 9:14pm
386 Views
Post# 34220944

from [paid promotional message]

from [paid promotional message]viewGreat Bear Resources ( TSX-V:GBR ) Stifel GMP repeats view that Great Bear Resources' Dixie is a 'world-class project in the making' after Kinross deal Stifel noted that the firm's Dixie gold project in Red Lake was shaping up to be a coveted asset in any significant gold producers portfolio and repeated a 'Speculative Buy' Great Bear Resources - Notably, Dixie currently is still awaiting a maiden resource, which may be pushed back to later in 2022, suggested Stifel analysts Stifel GMP is upbeat on news that Great Bear Resources Ltd (TSX-V:GBR) is to be acquired by Canadian mining major Kinross Gold for C$29 a share, which is a "well-deserved premium," according to the broker. Stifel noted that the firm's Dixie gold project in Red Lake was shaping up to be a coveted asset in any significant gold producers portfolio and repeated a 'Speculative Buy' on the company. Analysts added that they believed the price tag was "reasonable", even when adjusted for capital costs and time. "Based on our modeled 12.3Moz resource for Dixie (excluding the Hinge and Limb zones, and a resource we ultimately expect to grow over time), we estimate that Kinross is paying $113/oz for Great Bear, a reasonable value in our view, given the stage of the project. "We fully acknowledge that substantial project risks remain, but assuming a 2029 start-up to production (noted on the Kinross / GBR call as a possible start-up date), taking into account time value of money at 5% per year and including a US$700M capital cost for a phase 1 build, we estimate a time adjusted, capex included purchase price of $250/oz, which is in-line with the value the industrys senior producer (ABX, AEM, Evolution) currently trade at," they added. READ: Great Bear Resources and its Dixie gold project snapped up by Canadian major Kinross in C$1.8 billion deal Notably, Dixie currently is still awaiting a maiden resource, which may be pushed back to later in 2022, suggested Stifel analysts. "In our view, there is enough information at the moment to generate a resource, but given the potential size of the deposit and untested upside, Great Bear we expect was trying to define a larger project, capable of attracting the attention of the industry's major producers, which it now has achieved. "Dixie's maiden resource may now need to wait for Kinross' stamp of approval, delaying it until later in 2022," they added. "Given the premium and the friendly nature of the deal, we see the chances of another bidder unlikely," said Stifel. "We highlight that today's transaction re-iterates our thesis presented in our Oct 3rd note that the quality of Dixie, with its development and operational flexibility, ideally fits into the portfolio of any gold producers looking to generate high margins and a quick payback." Contact the author at giles@paidpromotionalmessages.com
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