May 12, 2022 Patriot Battery Metals Inc. (CSE:PMET, Not Rated, David A. Talbot) has completed its claim transfer and become a registered title holder to a
Author: RCFS Web
Global Atomic announced Q1/22 results and provided an update on its flagship Dasa uranium project in the Republic of Niger, and its zinc business in Turkey. EPS of neg. $0.026 was in line with our estimates of neg. $0.02/sh. While Q1/22 was slightly off for its zinc operations given the maintenance shutdown, higher zinc prices almost made up for the entire loss of sales as compared to last year and should fare well for the company moving forward. We also note that the focus of most investors remains on Dasa, which is quickly moving towards development. It was a very positive quarter for exploration, project financing, and other de-risking efforts. We believe Dasa is heading in the right direction as the project is being continuously improved and de-risked. With a commitment of up to US$75M from Export Development Canada, GLO is gaining its financial independence which it can use in its favour as it arranges off-takes and other development contracts needed to cover ~US$200M in Capex. Discussions continue surrounding Orano’s purchase of development ore as per its MOU, but meanwhile, we see mine development deferred until a reasonable offer is arranged. We also expect an updated Dasa resource and mine plan in June which should provide significant Phase 1 economic improvement.
May 11, 2022 Canada Nickel Company Inc. (TSXV:CNC, BUY, C$4.45 target, Timothy Lee) reported drilling results from four regional targets at its 100%-owned Crawford Ni
Aura released its Q1/22 financial and full operational results (ended Mar 31/21) which beat our revenue, EBITDA and EPS estimates. The beat was driven by FX gains and higher revenue on the back of more ounces sold in the quarter than produced. The company also maintained its 2022 guidance for total AuEq production of 260-290k oz AuEq at cash costs of $771-845/oz AuEq (RCS est. 265.2k oz AuEq at ~$790/oz AuEq). Overall, we view Q1/22 as being a very stable quarter for Aura despite lower production and we remind investors that Aura is generating free cash flow, has net cash of $29.3M and pays a competitive dividend. Given that production should be backend loaded in 2022, we anticipate steady results as Aura works to grow its production profile in the coming years by developing Almas and its other pipeline projects.