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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: 23.05.2022
Kursziel: CAD 16,90 (bisher CAD 15,30)
Kursziel auf Sicht von: 24 Monate
Letzte Ratingänderung: -
Analyst: Peter Thilo Hasler

Eloro closes CAD 9.8m Bought Deal Financing
 
Shortly after Eloro Resources filed an updated technical report on the Iska
Iska silver-tin polymetallic project in the Bolivian Potosi Department, the
company announced that it closed a CAD 9.775m bought deal financing. With
an immaculate 100% track record of holes drilled that intersected
reportable mineralization, we reiterate our Buy rating for Eloro Resources
and increase our fully diluted price target to CAD 16.90 from CAD 15.30 per
share, derived from an in-situ valuation of Iska Iska's Santa Barbara
Breccia Pipe.
 
Eloro Resources has closed a bought deal financing of 3,007,710 units of
the company at a price of CAD 3.25 per unit. Each unit consists of one
share and one-half of a warrant of the company. Each warrant entitles the
holder to acquire an additional common share at a price of CAD 4.75 for a
period of 24 months following the closing of the offering.
 
Gross proceeds of the bought deal underwritten by Cormark Securities are
CAD 9.775m. The net proceeds of CAD 8.939m will be mainly used to carry out
more drilling in the Santa Barbara area where after the recent discovery of
extensive high-grade mineralization Eloro needs to fully define the
mineralized zone for an estimation of an inaugural mineral resource for
Iska Iska. In addition, recent drilling has indicated the potential for a
significant tin porphyry in the Porco area which could become a second
major discovery at Iska Iska, in our view.
 
After completing the remaining 4,628 metres of the current drilling
program, most probably in June, Eloro says it will commence the recommended
phase I work program set out in the Technical Report with an estimated
completion date of October 2022e. The activities contemplated by this phase
1 program include 15,000 metres of additional drilling and the completion
of a maiden mineral resource estimate for Iska Iska.

Die vollständige Analyse können Sie hier downloaden:
http://www.more-ir.de/d/24261.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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