The following Important Disclosures apply for Juggernaut Exploration:
Lundin Gold Inc. (LUG:TSX) will use the currencies from a recent funding to start exploring its 64,400-hectare gold house in Ecuador, as shown by a Haywood March 4 research note. “Commencement of mining activities on the company’s highly prospective land package should endure consequences, and we all look forward to the first meaningful exploration funding for quite a while,” analyst Kerry Smith documented.
As for the Fruita del Norte job, it stays on track for initial production by year-end 2019. Engineering function is 85% done, earthworks is 75% complete and power point structure is 27% completed. Procedure plant building continues to progress. “Gold prices are going higher, and timing is looking good for this new manufacturer to start production later this year,” noted Smith.
Haywood includes a Buy rating on Lundin Gold, along with a CA$7.50 per share target price, recently decreased from CA$7.75. The organization “will be a brand new producer with 290,000 ounce anticipated in 2020,” Smith wrote. Lundin Gold’s stock is currently trading at around CA$5.28 percent share, a great point for accumulating stocks the analyst added.
Lundin Gold’s bought-deal equity financing grossed CA$46.6 million in 8.625 million shares being issued at CA$5.40 per share, Smith indicated. These resources will be used “to fund exploration activities in addition to general corporate purposes. ” No significant exploration efforts have occurred on the property since the Fruita del Norte gold deposit was discovered.
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Source: Streetwise Reports 03/07/2019
The funding for mining at 2019 is roughly US$4approximately 6 million and also for 2020, US$10–12 million, “however, the applications will be results driven,” Smith clarified.
Smith emphasized that Lundin Gold’s fiscal picture, money balance plus debt, is enough to complete construction and take the Fruita del Norte mine through commissioning. Of those US$692 million capex budget for the project, US$372 million have been unused. At 2018, the firm had US$168 million in money.
This Canadian company ’s aims for the house are discussed at a Haywood report, which also provided an update on mine structure.
Representative Certification: ” , Kerry Smith, hereby certify that the views expressed within this report (which includes the evaluation assigned to the issuer’s shares in addition to the analytical substance and tone of the report) accurately reflect my/our personal views about the subject securities and the issuer’s. No portion of my/our compensation has been, is, or will be directly or indirectly related to the specific recommendations.
Research coverage can be found here.
( Companies Mentioned: LUG:TSX,
The Analyst(s) preparing this report (or a member of the Analysts’ families ) have a financial interest in Roxgold Inc..
Other material conflict of interest of this research analyst where the researcher or Haywood Securities Inc. knows or has reason to be aware in the time of publication or in the time of public look: n/a.
The Fruta del Norte job “ranks as one of the largest and highest-grade undeveloped gold projects on the planet,” Smith wrote.
Smith clarified that within the next two years, Lundin Gold will strategically and systematically explore the container for systems geologically like Fruita del Norte. It’ll drill high-priority targets pinpointed over the Suarez pull-apart container and run mapping and sampling to determine additional prospective targets.