- Labor Market Implodes: Job Openings Crater, Prior Data “Unexpectedly” Revised Sharply Lower
- US debt explosion may force the Fed to halt a key tightening campaign so the financial system doesn’t become unstable
- Beacon comment on Arizona Metals
|Arizona Metals Corp. (AMC-T)||View Full Report (PDF)|
|12 Month Target: $10.50 (unch) | Buy (unch)|
|Acquires Important Private Land Position|
|Arizona Metals announced that it has entered into an agreement to acquire 100% of a private land parcel totaling 46.4 acres for a purchase price of US$2.5MM. The property is located 950m northeast of its Kay Mine Deposit. It includes the surface, mineral, and water rights, among other rights and benefits.
Valuation: AMC is trading at ~0.18x P/NAV. Our valuation is now based on a conceptual minable resource of 20MMt, through a milling rate of 1.6MMtpa and 80% base metal recovery and 60% for precious metals. We use a 0.70x NAV multiple, a discount rate of 7% and corporate adjustments to derive our price target. Our assumptions are informed by AMC’s exceptional exploration success thus far. We maintain a BUY and a 12-month target price of $10.50 per share.
|View the full report (pdf): AMC-2023-08-29.pdf|
|Bereket A. Berhe | 416.507.3978 | email@example.com|