2025 ahead ayondo Franchise coming soon
Happy 
xMas Holidays
xMas Holidays
xMas Holidays
Original-Research: Almonty Industries Inc. - von Sphene Capital GmbH
Einstufung von Sphene Capital GmbH zu Almonty Industries Inc.
Unternehmen: Almonty Industries Inc.
ISIN: CA0203981034
Anlass der Studie: Update Report
Empfehlung: Buy
seit: 11.05.2023
Kursziel: CAD 1,59 (bisher CAD 1,66)
Kursziel auf Sicht von: 36 Monate
Letzte Ratingänderung: -
Analyst: Peter Thilo Hasler, CEFA
Sangdong on track for commissioning in 2024e
We value Almonty Industries using a two-stage Discounted Cashflow entity
model of Almonty’s producing assets (Sangdong, Los Santos, and Panasqueira)
to which we have added the discounted value of the development project
(Valtreixal). Reflecting the higher number of shares outstanding, our fully
diluted price target slightly declines to CAD 1.59 from CAD 1.66 per share.
Given a 144.6% upside from the current share price of CAD 0.65 we are
reiterating our Buy rating for the shares of Almonty Industries.
In the 2022 fiscal year, Almonty generated revenues of CAD 24.8mn (2021: CAD 20.8mn, +18.9% YoY). As in 2021, revenues in 2022 were generated exclusively at the Couto da Panasqueira mine in central Portugal, a polymetallic wolframite deposit, that has been in operation more or less continuously since the first mining permit was granted in 1886. With a tungsten content of up to 3% tungsten trioxide (WO3), Panasqueira’s current estimates of reserves (proven & probable) are 3,928 tonnes (392,800 MTU) of WO3. Total earnings from mining operations were CAD 2.5mn in 2022, down from CAD 2.8mn in 2021, which had been positively impacted by a CAD 4.1mn impairment reversal. Operating cashflow was CAD -5.6mn, compared to CAD -8.4mn due to a strong improvement in group profitability.
Construction work on the South Korean Sangdong Tungsten Mine is progressing according to plan, as the company says. Total drawdown under the KfW Project Finance Facility (total financing amount USD 75.1mn) is USD 32.3mn.
Die vollständige Analyse können Sie hier downloaden: http://www.more-ir.de/d/26979.pdf
Kontakt für Rückfragen
Peter Thilo Hasler, CEFA
+49 (152) 31764553
peter-thilo.hasler@sphene-capital.de
-------------------übermittelt durch die EQS Group AG.-------------------
Für den Inhalt der Mitteilung bzw. Research ist alleine der Herausgeber bzw. Ersteller der Studie verantwortlich. Diese Meldung ist keine Anlageberatung oder Aufforderung zum Abschluss bestimmter Börsengeschäfte.
P R O D U C T S U G G E S T I O N S
The information presented here has been provided by our content partner EQS-Group. The originator of the news is the respective issuer, the company relating to the news, a publication service provider (press or information agency) which uses the distribution service of EQS to transmit company news to shareholders, investors, investors or interested parties. The original publications and other company-relevant information can be found at eqs-news.com.
The information you can access does not constitute investment advice. The presentation of our cooperation partners, where the implementation of investment decisions would be possible depending on the individual risk profile, is solely at the discretion of the person using the service. We only present companies of which we are convinced that the range of services and customer service will satisfy discerning investors.
If you are considering leverage products, familiarise yourself with the typical characteristics of the financial instruments beforehand. Take the time to determine the risk content of the planned investment before making an investment decision. Bear in mind that a total loss cannot be ruled out with leverage products.
For newcomers to the subject, we offer various options in both the training and the tools section, through which you can train theoretical knowledge and practical experience and thus improve your skills. The offer ranges from participation in webinars to personal mentoring. The range is continuously being expanded.
1 Lab features are usually functionalities that emerge from the think tank of the investor community. In the early stages, these are experimental functionalities whose development process is largely determined by use and the resulting feedback from the community. When integrating external services or functionalities, the functionality can only be guaranteed to the extent that the individual process elements, such as interfaces, interact with each other.
