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Arizona Metals Corp T.AMC

Alternate Symbol(s):  AZMCF

Arizona Metals Corp. is a Canada-based mineral exploration company. The Company is focused on the exploration and development of mineral resource properties in Arizona. The Company, through its wholly owned subsidiaries, owns 100% of the Kay Mine Project (the Kay Mine Project), located in Yavapai County, Arizona, United States, and 100% of the Sugarloaf Peak Gold Project (the Sugarloaf Peak Project) located in La Paz County, Arizona, United States. The Kay Mine Property in Yavapai County, which is located on a combination patented and BLM claims totaling 1,665 acres and 193 acres of private land. The Sugarloaf Peak Property, in La Paz County, which is located on 4,400 acres of BLM claims. Sugarloaf is a heap-leach, open-pit target. The Company also owns 100% of an Arizona State Land parcel totaling 40 acres (the Property), located 400 meters northeast of its Kay Mine property. Its wholly owned subsidiary is Croesus Gold USA Corp.


TSX:AMC - Post by User

Post by SPACEDOCon Jan 23, 2024 12:05pm
156 Views
Post# 35841021

Stifel comments &7.50 target but trepidation

Stifel comments &7.50 target but trepidation

Stifel Notes Arizona Metals' Spinout Plan

 
Symbol Last Price Change
AZMCF 1.5985up +0.0605 (+3.93368%)
QUOTES AS OF 12:02:16 PM ET 01/23/2024

11:31 AM EST, 01/23/2024 (MT Newswires) -- Stifel noted Tuesday that Arizona Metals Corp.(AZMCF) 's plan to spin out two new companies to existing shareholders.

Arizona Metals (AZMCF) plans to establish a standalone company focused on advancing the Sugarloaf Peak gold project, as well as a new royalty spinoff company that will own 2% royalties on its flagship Kay Project and nearby exploration properties.

Stifel noted the potential risks for introducing a royalty on a "previously unencumbered asset," adding that the market would likely rather see efforts focused on creating exploration value.

Stifel gave the company a buy rating with a $7.50 price target.

Price: 2.08, Change: +0.02, Percent Change: +0.97


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