Scotia not so positive...I listened to that Gentile/Grandich interview, and as I'm still very new to this story, learned a few things - like the lack of results from surface to 300 meters. Sugarloaf sounds interesting as well. If AMC isn't going to spend any more $ there, why hasn't the company spun this asset out the day before yesterday? Scotia thinks Sugarloaf is worth $1.19 or 24% of AMC NAV.
Speaking of Scotia, they reduced their target price to $5 from $6.75, reflecting a lower NAV of $5.03 from $6.67 previously. From what I can see, that haircut is due to 55 cents removal of Kay exploration potential and one year delay to production - now seen as 2030.
In the little reading I've done on this company, that's the first time I've seen an estimate of time to production. I suspect that's also news to a good many others. I asked this board a while back if anyone had a ballpark estimate of permitting/time to production and got zippo response. Speaking of permitting, Scotia thinks it will take 9 months to get approval for new drill pads. They might be able to access some of their targets from current pads, but ideally, need some new ones.