Eloro Resources Ltd.
Original-Research: Eloro Resources Ltd. (von Sphene Capital GmbH): Buy
Original-Research: Eloro Resources Ltd. – von Sphene Capital GmbH
Einstufung von Sphene Capital GmbH zu Eloro Resources Ltd.
Unternehmen: Eloro Resources Ltd.
ISIN: CA2899003008
Anlass der Studie: Update Report
Empfehlung: Buy
seit: 27.05.2021
Kursziel: CAD 15,80 (unverändert)
Kursziel auf Sicht von: 24 Monate
Letzte Ratingänderung: –
Analyst: Peter Thilo Hasler
More encouraging drilling results
The recent drilling results published are encouraging and demonstrate the
diversified metal value and size potential of the Iska Iska silver-tin
polymetallic system, in our view. We are therefore reiterating our Buy
rating for Eloro Resources and our fully diluted price target of CAD 15.80
per share. Our price target is derived from an in-situ valuation of Iska
Iska’s Santa Barbara Breccia Pipe, for which significant drill results have
already been disclosed and for which we calculate a NAV estimate of CAD
1,476.5 million. We apply a 0.8x multiple to our net asset value per share
estimate to arrive at our target price of CAD 15.80 per share. Other assets
(among them the Central Breccia Pipe) were not included in our valuation,
for we prefer to await further testing of the target.
Yesterday, Eloro Resources provided an update on drilling in Iska Iska’s
Santa Barbara Breccia Pipe (SBBP). Drill-hole DSB-07 (see exhibit 1)
intersected significant mineralization over substantive widths from both
the SBBP and the underlying granodioritic intrusion breccia, including
122.66 grams silver eq/t over 123.61m (35.05 g Ag/t, 0.72% Zn, 0.61% Pb,
0.11% Sn and 0.06 g Au/t) including 205.74 g Ag eq/t (92.30 g Ag/t, 0.57%
Zn, 0.85% Pb, 0.18% Sn and 0.07 g Au/t) over 32.32m. In aggregate, 64% of
this 683.4m long hole returned reportable mineralized intervals, according
to the company.
Eloro Resources has approximately 1,500 samples awaiting analysis at a
laboratory in Lima which could not have been analysed due to COVID-19
protocols restricting critical supplies to the laboratory, particularly
oxygen. With increasing vaccination rates, however, we expect the backlog
to be resolved over the comping weeks.
We expect continued positive news flow from Eloro Resources. (1) A drill
bay is under construction at the west end of the Santa Barbara adit to
provide a base for underground drill testing of the central part of the
caldera which will commence following the completion of underground
drilling at the Huayra Kasa Breccia Pipe. (2) The detailed ground magnetic
survey, which consisted of 181.5 line km at 50m line spacing, has been
completed and the data will be processed by geophysicists. (3) Down-hole
Induced Polarization surveys are expected to commence in the latter part of
June. (4) A drill bay is under construction at the west end of the Santa
Barbara adit to provide a base for underground drill testing of the central
part of the caldera which will commence following the completion of
underground drilling at Huayra Kasa. (5) A drill will be moved to the Porco
(South) target to carry out radial drilling at that location.
Die vollständige Analyse können Sie hier downloaden:
http://www.more-ir.de/d/22514.pdf
Kontakt für Rückfragen
Peter Thilo Hasler, CEFA
+49 (89) 74443558/ +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.
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