TSI has initiated coverage on ASX listed niobium development company, Cradle Resources (ASX:CXX) who is developing the Panda Hill Project in Tanzania
TSI has initiated coverage on ASX listed niobium development company, Cradle Resources (ASX:CXX) who is developing the Panda Hill Project in Tanzania. The key feature of the Project which make it stand out, include, a low strip ratio (0.4:1), good grade (0.5%Nb - Au equiv. of over 3g/t Au), manageable CAPEX (50% JV with Tremont, a fund backed by Denham Capital) and a substantial mine life (28 yrs and growing). Cradle is also rapidly moving towards releasing a PFS which is due in 1Q15; and based on the recent drill and metallurgical results we expect the PFS to have improve results compared to the scoping study. In addition, through the JV agreement with Tremont, the project's development should be funded until a decision to mine is made which should see Cradle's cash outflow kept at a minimum. We initiate coverage on Cradle with a valuation of $0.53/sh assuming a 40/60 debt equity split ($0.42/sh 100% equity). For the full report please click please click on the link (VIEW LINK)
Adam is the Founder and Principal of thesophisticatedinvestor.com.au (TSI Capital). TSI provides equity analysis of listed companies, however, is different from traditional providers as TSI presents its analysis in a video format. This includes...
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