In the news-Stockwatch This on Rupert one day this will be us?
Globe says Habib likes Rupert's "disciplined approach"
2023-03-01 08:32 ET - In the News
The Globe and Mail reports in its Wednesday edition that Scotia Capital analyst Ovais Habib resumed coverage of Rupert Resources with a "sector outperform" rating, touting the potential of its flagship Ikkari project in Finland. The Globe's David Leeder writes in the Eye On Equities column that Mr. Habib is also sticking with his $7.50 share target. Analysts on average target the shares at $8.15. Mr. Habib says in a note: "We believe Rupert's management team's fiscally disciplined approach to advancing the Ikkari discovery, further discoveries, resource growth and project derisking are a proven recipe for success. The Ikkari project (including Pahtavaara) has 4.2 million ounces (Moz) Au [gold] of indicated and inferred resources in situ, at an average grade of 1.9 grams per ton (g/t) Au. The 22-year life of mine is expected to produce an average of 200,000 ounces annually at a LOM [life-of-mine] cash cost of $667 per ounce (we model $732/oz) and All-in Sustaining Cost (AISC) of $759/oz (we model $784/oz)." Mr. Habib sees the Toronto-based company as "an attractive acquisition target," pointing to its "low-cost production profile in a favourable mining jurisdiction, with further potential mineralization."
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