RE:I wonder what Haywood is up to?They may see a profit on Marathon shares?
Calibre Mining (TSX: CXB) (OTCQX: CXBMF)’s resource expansion and exploration drilling around Pan shows growth and discovery potential which financial analysts consider could lead to higher positive values for the company.
The investment banking firm Haywood Securities Inc. released a research report on the gold mining company and concluded that the firm’s take on Calibre is positive and continues to climb as drilling pushes at the margin of Pan resource and uncovers new value on its Coyote target.
Calibre Mining offers a very attractive value-risk proposition Haywood analysts
Haywood analysts identified three key points for Calibre including:
Drilling around Pan pits shows additional shallow gold mineralization with grade (Black Stallion) and early drilling on the Coyote target uncovers the potential for a new discovery.
The results from Pan are expected to expand future production incrementally. Pan with Coyote and other targets showing potential for even greater leverage to future resource growth.
2023 exploration on Pan is expected to deliver 28,000 metres in drilling that is focused on new targets and the expansion of available resources as stated by Calibre.
Haywood estimates 2023 production of 269,000 ounces of gold at a total cash cost of US$1,008 per ounce and an all-in sustaining cost of $1,231 per ounce gold.
This forecast represents approximately 20 per cent year-over-year growth in production.
The firm recommends accumulating shares at existing levels. It placed a target price of $2.70 based on a 3.3x EV/CF multiple to its 2023 OCF (pre-WC) estimates of US$0.50/sh.