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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (77310)	2/20/2020 11:08:52 AM
From: Goose94	Read Replies (1) of 202445

Lundin Gold (LUG-T) CIBC analyst Bryce Mr. Adams sees exploration upside and takeout potential at Lundin Gold. Mr. Bryce boosted his rating to "outperformer" from "neutral." Mr. Adams says the miner's Fruta del Norte project in Ecuador is "highly attractive." He calls it "one of the highest-grade gold projects globally." He raised his share target by $5 to $13. Analysts on average target the shares at $11.52. Mr. Adams says in a note: "We estimate company-wide LOM AISC [life-of-month all-in sustaining cost] of $600 per ounce, providing robust operating margins and placing LUG firmly in the lowest-cost quartile. The deposit hosts 2P reserves of 5Moz gold at 8.7g/t, with a 15-year mine plan that supports an attractive FCF yield of 10 per cent in 2021, FDN's first full year of operations. FDN hosts 2.3Moz at 12.1g/t in M&I, as well as 2.1Moz at 5.7g/t in Inferred outside of the current mine plan. During the construction phase, these ounces have not been a focus, but with commercial production nearing, we see potential for Lundin to commence conversion drilling on those ounces in the back half of 2020."

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