RE:RE:RE:RE:RE:RE:RE:RE:RE:Pedra Branca Evaluation ?Since the link is unavailable here is a brief exract from the report on the company CNRI which is also seeking similar metals in Ontario as Valore is seeking in Brazil. We are maintaining a Speculative Buy Rating on CNRI and increasing our one-year Price Target to $5.25 from $5.00.
We have slightly adjusted these valuation factors from the last report:
- Updated commodity price estimates in 2025 for the various commodities based on data from S&P Capital IQ;
- An updated share count that includes the equity financing in December 2022, and accounts for any outstanding options and warrants using the Treasury Method;
- Assuming Net Cash is currently $8 million.
We have maintained these valuation factors:
- An adjusted mineral resource calculated by the following formula: 75% credit for the M&I resources and 50% credit for the Inferred resources;
- We are still assigning only a 5% value to the resources “in the ground” since the project is still in the Resource Definition Stage.
For a more in-depth explanation of the valuation estimation, see “Section 6 – Detailed Valuation Calculation” in the Update Report.
xxxxxxxx