We have updated our valuation for SolGold (“SOLG”) following the filing of the Cascabel PFS technical report. The changes result in a US$3.6bn NPV8% and 22% IRR (immediately pre-capex) at US$8,500/t Cu and US$1,850/oz Au, driving a modest cut in our target to 85p/sh (Jun’23E) from 101p. Nonetheless, we view this as a solid base case, with tangible potential upside through: inclusion of the open-pit Tandayama-America (“TAM”) deposit 3km away; additional caves and throughput capacity to capture th ....
04 Jul 2022
SolGold: Model update following PFS filing; de-risking continues with optimisations expected by year end
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SolGold: Model update following PFS filing; de-risking continues with optimisations expected by year end
SolGold Plc (SOLG:LON), 10.3 | SolGold Plc (SOLG:TSE), 0
- Published:
04 Jul 2022 -
Author:
Roger Bell | Ryan Hampton -
Pages:
12
We have updated our valuation for SolGold (“SOLG”) following the filing of the Cascabel PFS technical report. The changes result in a US$3.6bn NPV8% and 22% IRR (immediately pre-capex) at US$8,500/t Cu and US$1,850/oz Au, driving a modest cut in our target to 85p/sh (Jun’23E) from 101p. Nonetheless, we view this as a solid base case, with tangible potential upside through: inclusion of the open-pit Tandayama-America (“TAM”) deposit 3km away; additional caves and throughput capacity to capture th ....