As if we didn't know about ARTG's M and A appeal!!!
Globe says Artemis Gold seen having "M&A appeal"
2024-10-24 08:28 ET - In the News
The Globe and Mail reports in its Wednesday, Oct. 23, edition that National Bank Financial analyst Don DeMarco continues to rank Artemis Gold "outperform." The Globe's David Leeder writes in the Eye On Equities column that Mr. DeMarco has an unchanged share target of $20. Analysts on average target the shares at $17.56. Mr. DeMarco says in a note: "FCF inflection on deck (NBF est. first pour Oct. 2024) with Blackwater development led by an experienced COO, fully financed, on time and on budget, with potential development tailwinds from a mild winter in 2023/24. Attractive economics from LOM production of 339k oz/year over 22 years (DFS Sept. 2021) from a sizable eight million oz reserve endowment and visibility for elevated F5Y production (500k oz/year) upon accelerating Phase 2. Tier 1 jurisdiction benefits accentuated as headwinds continue to increase in other jurisdictions and for non-permitted projects universally. Additionally, we flag high insider ownership (38 per cent) and M&A appeal as a single-asset producer." The Globe reported on July 11 that CIBC analysts had upgraded Artemis Gold to "outperform" from "neutral." It was then worth $11.85.
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