Thursday, September 26, 2013

McEwen Mining & TNR Gold: CIBC Reiterates “Outperform” Rating for Lumina Copper MUX, TNR.v, LCC.v

 Rob McEwen is taking Taca Taca Copper deposit as the proxy for valuation of Los Azules Copper deposit. After recently released by McEwen Mining updated PEA on Los Azules we found it interesting that CIBC has reaffirmed its stock rating for Lumina Copper with CAD15.00 target price. Lumina Copper is trading now at CAD5.00 and this target price will put the valuation of Taca Taca Copper deposit at $650 million. Now you can slice it and dice it with the Mr Market mood.
  Any analyst valuation will be the the pie in the sky until Mr Market will confirm it, that is why for us is very important when Insiders are voting with their own money on the valuations. Ross Beaty bought 1 million worth of stock in Lumina Copper this summer.
  We are expecting now that analysts will start to put valuations in their research notes on Los Azules Copper after the updated PEA.

TNR Gold & McEwen Mining: Ross Beaty Buys 1 Million Worth of Shares In Lumina Copper TNR.v, MUX, LCC.v

"We have a very important vote of confidence from Ross Beaty in the Lumina Copper. Ross Beaty already owns 22% of Lumina Copper LCC.v and this move can show the bottom in this particular story. Argentina mining scare could be exaggerated in the end and JP Morgan with Goldman Sachs are talking about commodities turning up again. Dr. Copper is totally confused and has forgotten that it has to be on par with the recent markets' all-time-highs and FED even dreaming about "tapering in due cause" - only Insiders can provide some kind of guidance in this central planing world economy."

TNR Gold says updated McEwen PEA on Los Azules shows enhanced economics TNR.v, MUX

TNR Gold Corp. Advises of McEwen Mining's Updated Preliminary Economic Assessment for the Los Azules Copper Project TNR.v, MUX

TNR Gold: McEwen Mining Announces Updated Preliminary Economic Assessment for the Los Azules Copper Project TNR.v, MUX

 "As we have written extensively before, the coming Catalyst for McEwen Mining and, particularly, for TNR Gold will be the new PEA on Los Azules Copper.

Rick Rule On Gold & Resources: "The Stage Is Set For An Absolutely Dramatic Recovery" TNR.v, MUX

"TNR Gold provides even more risky and leveraged special situation play and now depends on Rob McEwen's Midas Touch - company holds 1 million shares of McEwen Mining and have back-in right into the part of Los Azules project. Insiders are accumulating the company shares, holding the majority stake in the company and provided long term debt which has financed Shotgun Gold project 43-101 resource estimate in Alaska this year."

  Rob McEwen is on the road now promoting his company and moving fast forward. Ian Ball was nominated as the new President of the company and Craig Stanley joined the team as VP of Corporate Development from Stifel Nicolaus. Company is very well positioned now for the higher Gold and Silver prices and should Eric Sprott happen to be right again we have found how to run this new Gold Bull market. Janet Yellen's nomination to the FED Chair will help Gold miners as well, if Jim Puplava's tea leaves reading is right.

  With Craig Stanley in charge we can expect M&A activity on behalf of McEwen Mining in the Gold and Silver sector and more active promoting of Los Azules Copper after PEA will put the new valuation on the project:"

All slides are from McEwen Mining Denver presentation.

McEwen Mining Inc. (TSX:MUX,NYSE:MUX) announced the results of an updated preliminary economic assessment (PEA) for its Argentina-based Los Azules copper project, commenting that the results show that the project has the potential to become one of the world’s biggest and lowest-cost copper mines.
PEA highlights include:
  • Pre-tax Net Present Value (“NPV”) of $3.0 billion (8% discount rate) and an Internal Rate of Return (“IRR”) of 17.6%.
  • After-tax NPV of $1.7 billion (8% discount rate) and an IRR of 14.3%.
  • Annual copper production during years 1-5 to average 255,000 tonnes (563 million lbs), which would have placed it in the top 3%1 of copper mines in the world during 2012. Life of mine (“LOM”) annual copper production to average 171,000 tonnes (377 million lbs) over 35 years.
  • Cash operating costs during years 1-5 to average $0.87/lb copper (net of gold by-product), placing it in the bottom 14%1 in the world during 2012. Cash operating costs over entire mine life to average $1.08/lb copper (net of gold by-product).
  • Indicated resource of 5.4 billion pounds of copper and 0.8 million ounces of gold and Inferred resource of 14.3 billion pounds of copper and 2.6 million ounces of gold (please see Table 2 below for resource details).
  • Initial capital costs to construct the mine and a 120,000 tonnes per day (“tpd”) process plant have been estimated at $3.9 billion.
  • Capital payback on a pre-tax basis has been estimated at 3.8 years at $3.00/lb copper and $1,300/oz gold.

Ticker Report:

CIBC Reiterates “Outperform” Rating for Lumina Copper Corp (LCC)

Lumina Copper Corp (CVE:LCC)‘s stock had its “outperform” rating restated by equities researchers at CIBC in a research report issued on Tuesday, AnalystRatingsNetwork reports. They currently have a C$15.00 target price on the stock. CIBC’s target price would indicate a potential upside of 223.28% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Laurentian cut their price target on shares of Lumina Copper Corp (CVE:LCC) from C$20.00 to C$16.00 in a research note to investors on Friday, July 26th. They now have a “speculative buy” rating on the stock. Analysts at Mackie reiterated a “speculative buy” rating on shares of Lumina Copper Corp (CVE:LCC) in a research note to investors on Tuesday, July 9th. They now have a C$13.70 price target on the stock.
Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to thecompany’s stock. Lumina Copper Corp has an average rating of “Buy” and a consensus price target of C$17.34.
Lumina Copper Corp. (CVE:LCC) is a Canada-based development-stage company."
Please Note our Legal Disclaimer on the Blog, including, but Not limited to:

There are NO Qualified Persons among the authors of this blog as it is defined by NI 43-101, we were NOT able to verify and check any provided information in the articles, news releases or on the links embedded on this blog; you must NOT rely in any sense on any of this information in order to make any resource or value calculation, or attribute any particular value or Price Target to any discussed securities.

We Do Not own any content in the third parties' articles, news releases, videos or on the links embedded on this blog; any opinions - including, but not limited to the resource estimations, valuations, target prices and particular recommendations on any securities expressed there - are subject to the disclosure provided by those third parties and are NOT verified, approved or endorsed by the authors of this blog in any way.

Please, do not forget, that we own stocks we are writing about and have position in these companies. We are not providing any investment advice on this blog and there is no solicitation to buy or sell any particular company.

Enhanced by Zemanta

No comments: