OTCPK:GBARF - Post by User
Post by
sledigon Apr 20, 2022 11:26am
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Post# 34616556
New coverage
New coverage Monarch Mining Corp (C-GBAR) - In the News
Globe says new coverage rates Monarch "speculative buy"
2022-04-18 04:41 ET - In the News
Shares issued 108,700,832
GBAR Close 2022-04-18 C$ 0.65
The Globe and Mail reports in its Saturday, April 16, edition that Stifel analyst Stephen Soock began coverage on Montreal-based Monarch Mining with a "speculative buy" rating and $1.50 target. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $1.40. Mr. Soock says in a note: "Monarch Mining is about to be the newest gold producer in the Abitibi. After refurbishing the Beaufor mine and fully permitted Beacon mill, the company is on track to ramp up to 50koz/yr at an AISC of $1,221/oz by 2024. This will produce $18-million per year in free cash flow to fund the restart of production at the Croinor mine (additional 40koz/yr) and advance resource expansion drilling at depth at both operations. In parallel, the company plans to continue to actively explore the nearby McKenzie Break and Swanson properties which together already host 521koz of resources. Management has an excellent track record of value creation (as Monarch Gold) and a wealth of M&A experience on the GBAR board. The stock trades at spot P/NAV of just 0.28 times vs 100koz/yr producer peers at 0.46 times."