The Energy Report
Notable Quotes
"With the LOI signed, we urge investors to bolster positions in FCU." (12/22/15) Fission Uranium Corp. - David Sadowski, Raymond James More >
"FCU is taking the right steps regardless of whether PLS is ultimately acquired or developed into a mine." (12/22/15) Fission Uranium Corp. - Heiko Ihle, Rodman & Renshaw More >
"I am quite excited about POE in 2016." (12/16/15) Pan Orient Energy Corp. - Chen Lin, What Is Chen Buying? What Is Chen Selling? More >
"BKX's Oklahoma asset has significant value." (12/16/15) BNK Petroleum Inc. - Michael Charlton, iA Securities More >
"EFR is one of the few companies in a position to write long-term sales contracts and deliver into them at several times its current production rate." (12/17/15) Energy Fuels Inc. - The Gold Report Interview with Eric Coffin More >
Updated Resource Estimate for Santa Elena Project
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SIDDHARTH RAJEEV, Fundamental Research Corp.
(03/02/2009)
"A recently updated mineral resource estimate on the Santa Elena project in Mexico increased indicated gold and silver resources by 150% and 173%, respectively. Updated NI 41-101 resource estimates are: 339,600 oz gold, 11.93 million oz silver probable; 190,600 oz gold, 11.82 million oz silver indicated and; 116,235 oz gold, 7.98 million oz silver inferred. We are encouraged not only by the increase in indicated resources, but also the increase in grade of these resources as we expect this will likely lead to decreases in per-ounce operating costs once production is underway. As a result of the increase in resources, our DCF valuation on the Santa Elena, and the Cruz de Mayo properties, increased from $0.73 to $0.91 per share. Based on our revised valuation models, and review of the company's progress since our previous report, we reiterate our BUY rating, and maintain our fair value at $1.98. Although the comparables valuation has dropped, the DCF value has increased which shows that the company is progressing its projects in the right direction while the market continues to be volatile." |
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