The Globe and Mail reports in its Tuesday, July 7, edition that National Bank Financial analyst Rabi Nizami has reaffirmed his "outperform" ranking and unchanged share target of $9.50 for Mining America, matching the consensus. The Globe's David Leeder writes in the Eye On Equities column that Mr. Nizami thinks Mining Americas is "emerging from an organizational and financial restructuring with an improved capital structure and multi-year growth roadmap."
Last week, it announced its approval to graduate to the TSX and shareholder approval of the company's formal name change from Minera Alamos Inc.
Mr. Nizami says in a note: "The start of construction at Copperstone [in La Paz County, Ariz.] marks an important milestone which puts the company back in position to execute and demonstrate its mine-building capabilities. The company is embarking on a series of rapid and low-cost mine builds with consolidated production growth towards more than 150 koz per annum. The Pan Mine [White Pine County, Nevada] anchors the current portfolio as the cash flow engine, construction is now underway at Copperstone, and is to be followed by Gold Rock and Cerro de Oro (55-60 koz). The balance sheet is supported with NBCCM estimated at $75-million."
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