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 >
Wellington West Raises Target on AAA
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ROBERT WINSLOW, Wellington West Capital Markets
(01/25/2011)
"Drilling continues to show attractive grades, shallow depth—supports low cost project: Hole 08 shows attractive KCl grades, shallow depths—open pittable? DK-10-08 intersected two prominent potash zones at 164m–181m deep, supportive of an open-pit mine: 2.0m at 31.6% KCl and 7.5m at 22.1% KCl. Latest drill results suggest resource expansion potential. Attractive mineralization of hole 8 gives management confidence that deposit extends even further south; offers resource expansion potential. Lower-cost status moving closer to reality—reducing assumed costs. Target upped to $1.65 from $1.20—approaches KCL takeout multiple. DCF drives $1.72 NAVPS12.5% (fd, ff), or 0.49x EV/NAV, which compares to 0.45x EV/NAV paid for Potash One post BFS and pre ag sector rally. Our capex estimate drops to $750M (+15% contingency) from $800M and opex falls to $75/ton from $80/ton on rising likelihood of open-pit ops." |
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More Experts
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