ALDE
ALDEBARAN RESOURCES INC
stock CVE

Panoro Minerals is a junior copper explorer sitting on a massive porphyry copper project in southern Peru. The land package is 15,900 hectares with over a dozen untested drill targets - this is a full mining district, not just a single deposit. The team has been on the ground for 10-15 years and the project is in a stable, low-risk jurisdiction. No security concerns unlike other Latin American mining regions.
The valuation gap compared to peers is the main reason this is interesting right now.
Look at this comp table:
* ALDE: $635M market cap, $76.75 ore value/tonne
* PCU: $328M market cap, $56.75 ore value/tonne
* NCX: $662M market cap, $116.68 ore value/tonne
* PML: $137M market cap, $82.86 ore value/tonne
* PML high grade zone: $137M market cap, $175.42 ore value/tonne
This stock would need to quadruple just to start catching up to peers!
Company is well funded with a recent $7.5M raise and another $7M expected from a non-core asset sale. Two respected global resource funds, Delbrook and Konwave, recently took positions. New board members may signal a shift from trying to sell the asset to actually developing it.
Upcoming catalysts to watch:
1) New drilling on 40-50km of targets with existing permits.
2) A PEA targeting a high-grade zone capable of supporting a 30ktpd mine.
3) New drilling on the skarn target - Their previous drill here returned 28 metres of high grade copper - which was basically ignored by the market in 2023.

Some napkin math puts NPV8 is $4B at spot and at 5X EBITDA is $5B or $15 USD/Share.

DYODD. This is not financial advice. Disclosure: I hold roughly 100K shares.

Panoro Minerals is a junior copper explorer sitting on a massive porphyry copper project in southern Peru. The land package is 15,900 hectares with over a dozen untested drill targets - this is a full mining district, not just a single deposit. The team has been on the ground for 10-15 years and the project is in a stable, low-risk jurisdiction. No security concerns unlike other Latin American mining regions.
The valuation gap compared to peers is the main reason this is interesting right now.
Look at this comp table:
* ALDE: $635M market cap, $76.75 ore value/tonne
* PCU: $328M market cap, $56.75 ore value/tonne
* NCX: $662M market cap, $116.68 ore value/tonne
* PML: $137M market cap, $82.86 ore value/tonne
* PML high grade zone: $137M market cap, $175.42 ore value/tonne
This stock would need to quadruple just to start catching up to peers!
Company is well funded with a recent $7.5M raise and another $7M expected from a non-core asset sale. Two respected global resource funds, Delbrook and Konwave, recently took positions. New board members may signal a shift from trying to sell the asset to actually developing it.
Upcoming catalysts to watch:
1) New drilling on 40-50km of targets with existing permits.
2) A PEA targeting a high-grade zone capable of supporting a 30ktpd mine.
3) New drilling on the skarn target - Their previous drill here returned 28 metres of high grade copper - which was basically ignored by the market in 2023.

Some napkin math puts NPV8 is $4B at spot and at 5X EBITDA is $5B or $15 USD/Share.

DYODD. This is not financial advice. Disclosure: I hold roughly 100K shares.