RE:RE:CIBC Equity ResearchNot sure on why the WPM payout wasn't mentioned. GAAP allows for latitude as to how things are presented. It will be interesting to see how this all "rolls over" in the next financials.
As for the assets note how they went from perceived value to almost like a total write down. In my experience at this point in time it is usually the auditors pesenting some thoughts as to the best exit strategy for the stakeholders. As for the reality of a non producing mine the "assets" can become a liability. They can go to auction and so forth, perhaps at a large writedown. I could be wrong but I dont think HL is going to sprinkle pixi dust and make this all better in short order. IMO If they see a viable business case this might go to a FID but that would presume a long term uptick in commodities in general.
CIBC presents the folowing analysts, as you can see it has changed over time and now aoears ignored...
Analyst Name Position Price Target Action Date Article
Joseph Reagor
Roth Capital
Hold $0.40 Downgraded Jul 6, 2022 Read
Jake Sekelsky
Alliance Global Partners
Hold — Downgraded Jul 6, 2022 Read
Kevin MacKenzie
Canaccord Genuity
Hold $1.25 Downgraded Jun 23, 2022 Read
Mike Kozak
Cantor Fitzgerald
Buy $2.00 Reiterated Jun 22, 2022 Read
roberto146 wrote: "... the implied acquisition cost of $103M, including the $30M loan ..."
I guess the $135MM Wheaton payout is not part of the CIBC's analysis of 'implied acquisition cost'. They refer to it previously in the analysis. Is there some other way to show that on the books? Or should it be $238MM USF?
As I mentioned in a previous post, the bargaining with Wheaton, after they had been patient for many years (and been compensated accordingly), would be tougher if further negotiations were necessary. Probably the sale wouldn't have been agreed without the payout of the agreement. They did have AXU assets as collateral.
Interesting CIBC show cash-flow accretive in 2024. Last AXU estimate was 2023. Possibly CIBC was just being conservative.