Analyst Research Report Snapshot

Title:

AFFERRO MINING - TICKING ALL THE MAJOR BOXES

Price:

$10.00

Provider:

Edison Investment Research

Date:

19 Jul 2013

Pages:

16

Type:

AcrobatPDF

Companies referenced:

AFF.V AMIq.L BZM.L EQX.AX LOND.L SDL.AX SDL.L ZIOC.L

Available for Immediate Download
Summary:

Afferro ticks all the major boxes in terms of the quality of its asset base, projects’ diversity and potential access to infrastructure. While Nkout is a large magnetite deposit with a potential early stage DSO operation, Ntem is a smaller scale, and hence more affordable, project, which is only 80km from the coast. This, coupled with the positive met test results and a robust maiden resource estimate, suggests that Ntem could be Afferro’s first project into production. Trading at an EV/resource of US$0.05/t, the AFF stock should be well supported by positive operational news flow and expectations of the successful completion of the IMIC takeover.

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