{"id":4398,"date":"2024-01-15T18:10:46","date_gmt":"2024-01-15T18:10:46","guid":{"rendered":"https:\/\/economicherald.net\/?p=4398"},"modified":"2024-01-15T18:10:46","modified_gmt":"2024-01-15T18:10:46","slug":"moneytalks-firefly-metals-could-double-on-new-canadian-gold-focus-field-solutions-may-triple","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=4398","title":{"rendered":"MoneyTalks: Firefly Metals could double on new Canadian gold focus; Field Solutions may triple"},"content":{"rendered":"<p>Firefly Metals and Field Solutions both rated Speculative Buys by brokers<br \/>\nFirefly\u2019s Canadian copper-gold mine is a catalyst for the stock<br \/>\nTelco stock Field Solutions price target downgraded due to cap raise<\/p>\n<p>\u00a0<\/p>\n<h2>Firefly Metals\u2019 share price could double<\/h2>\n<p>Broker Argonaut has rated <strong><a href=\"https:\/\/stockhead.com.au\/company\/firefly-metals-ffm\/\">Firefly Metals (ASX:FFM)<\/a><\/strong> a <strong>SPECULATIVE BUY<\/strong>, with a <strong>price target of $1.04<\/strong> (versus current price of $0.55).<\/p>\n<p>The $200m market capped Firefly owns the <strong>Green Bay Copper-Gold project\u00a0in Newfoundland, Canada<\/strong>, which it acquired from administrators of <em>Rambler Metals<\/em> in August last year.<\/p>\n<p>To secure the asset, FFM agreed to pay Rambler\u2019s liquidators a total consideration of $65 million.<\/p>\n<p>After acquiring the project, FFM said it will shift focus away from the Pickle Crow gold project to Green Bay, with major drilling programs already underway.<\/p>\n<p>FFM says it aims to redevelop Green Bay as a significantly larger copper and gold producer than that run by Rambler Metals.<\/p>\n<p>Green Bay includes the suspended <em>Ming Mine,<\/em> <em>Little Deer Complex Resources,<\/em> the 500ktpa <em>Nugget Pond Plant<\/em> and <em>Goodyear\u2019s Cover Port<\/em> facility.<\/p>\n<p>Existing infrastructure including underground development, processing, port, and camp is estimated to be worth in excess of $250m. The region is strongly geared towards the mining sector with several existing operations. Electricity is available at 7.4c\/kwh.<\/p>\n<p>The Ming Mine is developed to 950m below surface, and includes both decline and shaft access. Ming hosts volcanogenic massive sulphide (VMS) mineralisation, which occurs as ribbons of high-grade (~2.0-3.5% Cu) massive sulphide and lesser grade (~1.6% Cu) breccia stringer zones.<\/p>\n<p>Ming Resources currently total 30.1Mt grading 1.85% Cu, 0.36g\/t Au, 2.8g\/t Ag. Additionally, the nearby Little Deer Complex hosts 9.1Mt of Resources grading 1.92% Cu, with minor gold and silver credits.<\/p>\n<p>\u201cOur redeveloped Ming operation includes improvement to underground access infrastructure and construction of a new 3Mtpa milling and flotation plant adjacent to the mining operation,\u201d said the note out of Argonaut.<\/p>\n<p>\u201cOur diluted mining inventory grades 1.65% Cu, 0.35g\/t Au and 2.50g\/t Ag, consistent with the existing Resource base.<\/p>\n<p>\u201cUnder our scenario, Ming would produce 46kt of copper, 23koz of gold and 144koz of silver per annum over a 14-year period at an AISC of US$1.77\/lb Cu (net by-products). This outcome is strongly dependent on exploration success and Resource expansion.\u201d<\/p>\n<p>Argonaut believes that costs will benefit from existing infrastructure and hydro-electricity sourced grid power.<\/p>\n<p>\u201cWe estimate US$300 million for capital costs including upgrade of underground access and build of a new process plant.<\/p>\n<p>\u201cUsing a US$8,000\/t copper price, our Green Bay model generates a Build Date NPV of $739m, equivalent to $2.05 per share of currently listed capital. We expect project funding would be provided by a mix of equity and debt.<\/p>\n<p>\u201cWith Green Bay taking priority, we also suspect the Pickle Crow gold project could be sold off in the medium term,\u201d noted Argonaut.<\/p>\n<p><em><strong>\u00a0Now read: <a href=\"https:\/\/stockhead.com.au\/resources\/this-formidable-team-of-bellevue-alumni-has-its-sights-set-on-the-copper-mid-tier\/\">This formidable team of Bellevue alumni has its sights set on the copper mid tier<\/a><\/strong><\/em><\/p>\n<p>\u00a0<\/p>\n<h2>Field Solutions\u2019 price target downgraded, but could still triple<\/h2>\n<p>Meanwhile, <strong>Canaccord Genuity<\/strong> has also slapped a <strong>SPECULATIVE BUY<\/strong> rating on telco stock, <strong><a href=\"https:\/\/stockhead.com.au\/company\/field-solutions-fsg\/\">Field Solutions (ASX:FSG)<\/a><\/strong>, with a <strong>price target of $0.11<\/strong> (versus the current share price of $0.036c).<\/p>\n<p>Canaccord had originally set the target price at $0.19, but downgraded it to $0.11 after reducing its estimates on the company\u2019s profits for FY24 and FY25.<\/p>\n<p>The $28m market capped Field Solutions \u00a0builds and operates \u201ctrue broadband network\u201d \u2013 specifically for rural, regional and remote Australia.<\/p>\n<p>In December last year, the company <strong>secured a $13m debt funding<\/strong> to complete its Regional Australia Network (RAN) buildout, which, when completed, will encompass a total of 127 new towers (21 completed) and 19 networks (three completed).<\/p>\n<p>FSG said it anticipates the debt funding utilised for the network build to be repaid within 18 months.<\/p>\n<p>\u201cWe note that ultimately, the current expansion of FSG\u2019s RAN is expected to be funded by government grants awarded across 2021\/22, and predominantly from the Regional Connectivity Program (RCP),\u201d noted Canaccord.<\/p>\n<p>As a result of this new funding and associated costs however, Canaccord has reduced its FY24 EBITDA estimate for FSG to $6.4m (from $8.7m), and FY25 EBITDA to $8m (from $10.8m).<\/p>\n<p>And after incorporating new interest charges ($0.8m in FY24 and $1.6m in FY25), into its forecasts, Canaccord has also reduced its FY24 NPATA estimate for FSG to $1.1m (from $3.1m) and FY25 NPATA to $1.7m (from $5.1m).<\/p>\n<p>\u201cWe note our FY24E forecasts remain unchanged for the Core ISP\/MSP division to deliver EBITDA of $11.3m,\u201d said Canaccord.<\/p>\n<p>\u201cOn the back of revised forecasts, our sum-of-the-parts based target price and valuation is reduced to $0.11\/share (from $0.19\/share.<\/p>\n<p>\u201cHowever, while it\u2019s a protracted process to access funding and build momentum in the current network expansion, that is now resolved and it\u2019s now in FSG\u2019s hands to execute, and on that basis we retain a Speculative Buy rating.\u201d<\/p>\n<p>\u00a0<\/p>\n<h2>Share prices today:<\/h2>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span><span class=\"mce_SELRES_start\"><\/span>\u00a0<br \/>\n<span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/experts\/moneytalks-firefly-metals-could-double-on-new-canadian-gold-focus-field-solutions-may-triple\/\">MoneyTalks: Firefly Metals could double on new Canadian gold focus; Field Solutions may triple<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Firefly Metals and Field Solutions both rated Speculative Buys by brokers Firefly\u2019s Canadian copper-gold mine is a catalyst for the stock Telco stock Field Solutions <a href=\"https:\/\/economicherald.net\/?p=4398\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":4399,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-4398","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>MoneyTalks: Firefly Metals could double on new Canadian gold focus; Field Solutions may triple - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=4398\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MoneyTalks: Firefly Metals could double on new Canadian gold focus; 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