Cardero Resource Corp. (CDU) - It’s not only ore, it’s much more: Zahlen, Daten, Fakten und Diskussi (Seite 259)
neuester Beitrag 17.12.15 10:05:53 von
Neuigkeiten zur Cardero Resource Aktie
Sind Penny Stocks eher geeignet. Unter 100 verschiedenen sind 2 bis 3 mit bester Performance dabei. Alle anderen sind heute hui morgen pfui oder völlig pfui
Nun soll Xstrata mal rasch Carbon Creek kaufen.
Das würde ich auch befürworten wenn der Preis stimmt.
Dazu passt diese schöne Empfehlung. Stichworte: Konsolidierung der Kohleproduzenten und wieder jene 500 Mio. (nur für Carbon Creek):
Cardero Resources is a "standout, cheap takeover target", says Ocean Equities
3:03 pm by Deborah Sterescu
Cardero Resources is a 'standout, cheap takeover target', says Ocean Equities
Capital markets firm Ocean Equities said Friday in a research note that Xstrata’s (LON:XTA) US$500 million cash offer for the Sukunka project highlights Cardero Resources (TSE:CDU) as a "standout, and cheap, takeout target".
Earlier this week, Xstrata plc announced the acquisition of the Sukunka coal deposit from Talisman Energy (TSE:TLM) for US$500 million in cash.
Sukunka is located 60 kilometres south of Chetwynd in the Peace River Coalfield of North Eastern British Columbia (NEBC), Canada. The licence covers over 20,000 acres and contains an underground mineable metallurgical coal deposit that is contiguous with the First Coal Corp. and Lossan tenements acquired by Xstrata in August and October 2011 respectively.
Xstrata’s three cash acquisitions in the last eight months for non-producing, exploration and development deposits in the region, which are yet to secure infrastructure access, totals C$672 million.
Sukunka has a NI43-101 resource of 236 million tonnes in the Measured and Indicated categories. Xstrata Coal’s technical studies indicate the potential to realize further value from the resource, Ocean said, while "unlocking synergies from its recently acquired neighbouring assets and providing further regional scale".
In the report, Ocean said: "Consolidation in the global coal sector continues at a remarkable pace. Following the recent successful $1b cash takeover of Grande Cache (Alberta, Canada), six acquisitions in ~15 months involving predominately Peace River projects valuing the target assets at C$4.73b and resulting in four of the top five met coal producers now looking to ramp up production in the region, POSCO’s recent entry into the NEBC coal sector and various speculation regarding potential offers for Walter Energy, there is renewed focus on the potential for further consolidation in the Peace River coalfield."
In this context, the research firm further said that it believes Cardero is a "standout" and a cheap M&A target.
The company's flagship Carbon Creek asset is one of the largest deposits in the region with a resource of 333.5 million tonnes, with 166.7 million tonnes in the measured and indicated category, and two upgrades expected in 2012.
It is "geologically uncomplicated", Ocean said, and "supports the production of high quality met coal products, is relatively favourably located to existing infrastructure, and is well positioned from local community groups’ perspective and native wildlife/environmental considerations".
A preliminary economic assessment was recently completed, and returned a base case $752 million post tax net present value and a 29.3 percent internal rate of return, assuming an average sale price of $185 per tonne with production of 2.9 million tonnes per year over a 30 year mine life.
Despite Cardero’s share price rallying 20 percent overnight, following the announcement of Xstrata’s most recent acquisition in the region, its market cap still remains only around C$120m, a significant discount to recent peer group transactions in the sector and region, Ocean noted.
Based on the US$500 million purchase price, Xstrata is paying around C$2.10/resource tonne implying a peer group valuation of about C$525 million for Cardero’s interest in its flagship Carbon Creek project, said Ocean.
"While resource multiples are not necessarily the most accurate method of valuation we believe they are extremely useful in this case to illustrate Cardero’s significant valuation discount."
The recent announcement of the robust PEA for Carbon Creek is "the first of a number of identifiable catalysts for Cardero in the upcoming months", Ocean concluded, including: the announcement of a new COO, the granting of the remaining tenement application required to consolidate the Carbon Creek property, Cardero looking to secure a commercial agreement with Ridley Terminals for port capacity, a further resource upgrade and coal quality report, off-take negotiations commencing in the second quarter and, an updated PEA or preliminary feasibility study.
Cardero is currently changing hands around $1.31.
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Schönes Wochenende und Salve,
Meet Canada's Surprising New Superstar
CHRISTOPHER BARKER, THE MOTLEY FOOL
A future star is born
Looking over a map of the Peace River Coalfield, and the key known deposits on the trend, you can't help fixing your gaze upon one glaring feature. In the wake of all this concerted consolidation activity, the Carbon Creek deposit -- majority-owned by junior developer Cardero Resource (ASE: CDY) -- stands out like an undiscovered star that was born for the big stage. Cardero completed its acquisition of private company Coalhunter in 2011 and signaled the company's strategic focus upon this high-quality coal asset by inserting Coalhunter's founder Michael Hunter as Cardero's CEO. Hunter also founded First Coal, the company that XSTRATA purchased last year for $153 million.
I sat down with Cardero CEO Michael Hunter in Toronto this week at the Prospectors and Developers Association of Canada's mining conference, and I look forward to sharing excerpts from that discussion next week. To catch that article and all my forthcoming coverage of Canada's met-coal bonanza, please bookmark my article list, or follow me on Twitter. In the meantime, I wish to offer my readers a brief glimpse of the relative valuation between XSTRATA's latest purchase and Cardero's 75% stake the Carbon Creek deposit.
XSTRATA's $500 million purchase price for the Talisman's Sukunka deposit equates to $2.12 for each of the asset's 236 million tons in measured and indicated resource. Cardero Resource carries a current market capitalization of just over $120 million, or merely 16% of the project's attributable, post-tax net present value (8% discount rate) of $752 million, as calculated by a preliminary economic assessment last December. Delivered as it was into an equity market that appeared disjointed from market fundamentals, I argued that Cardero's meaningfully positive assessment of Carbon Creek fell entirely upon deaf ears. Applying XSTRATA's latest per-ton purchase price to Cardero's attributable share of measured and indicated resources at Carbon Creek would yield a comparable valuation of $265 million. In subsequent discussions, I will place that clear valuation disconnect into the context of Cardero's array of other assets featuring cash, equity investments, and other compelling projects such as the company's district-scale iron project in Ghana.
Accordingly, even though my bullish CAPScall on Cardero Resource remains deep in the red amid this prolonged bout of weakness for met coal stocks, I remain steadfast in my expectation that the market will ultimately correct for the resulting valuation disconnect in these downtrodden shares.
Glencore, Xstrata alles bewaehrte Cardero-Partner... und ein Ressourcenupdate koennen wir hier auch erwarten. Somit steht dann auch das Preisschild von Ocean Eq. mit $525 Millionen.
A future star is born
Looking over a map of the Peace River Coalfield, and the key known deposits on the trend, you can't help fixing your gaze upon one glaring feature. In the wake of all this concerted consolidation activity, the Carbon Creek deposit -- majority-owned by junior developer Cardero Resource (AMEX: CDY ) -- stands out like an undiscovered star that was born for the big stage. Cardero completed its acquisition of private company Coalhunter in 2011 and signaled the company's strategic focus upon this high-quality coal asset by inserting Coalhunter's founder Michael Hunter as Cardero's CEO. Hunter also founded First Coal, the company that XSTRATA purchased last year for $153 million.