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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (65692)	8/21/2019 8:05:09 AM
From: Goose94	Read Replies (2) of 202904

Rubicon Minerals (RMX-T) Laurentian Bank Securities analyst Ryan Hanley, with an unchanged "buy" call, has trimmed his share target for Rubicon Minerals to $2.25 from $3. Analysts on average target the shares at $2.47. Mr. Hanley says preliminary economic assessment on Rubicon's Phoenix gold project in Red Lake, ON., is "robust" but features a shorter mine life. Despite a shorter mine life impacting the company's net asset value, Mr. Hanley did say there is "still ample value." He adds in a note: "Due largely to the reduced amount of tonnage in our model and corresponding shorter mine life, our NAV/sh for RMX declines to $2.18 from $2.95 previously. ... Despite the reduction in NAV due to a shorter mine life, there is still excellent potential for RMX to add to its resource base as not only does the deposit remain open at depth and along strike, but several additional exploration targets exist within 2km of the Phoenix gold project which could provide additional mill feed. Even with a much higher level of confidence in our updated valuation, we have left our discount rate unchanged at 8 per cent."

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