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PI Financial Corp Issues New Buy Recommendation on Imperial Metals - Video Research Alert Posted on InvestmentPitch.com
Vancouver, British Columbia--(Newsfile Corp. - August 26, 2013) - PI Financial Corp. issued a ...
About this update from Imperial Metals Corporation
[{"type":"text","content":"\nPI Financial Corp Issues New Buy Recommendation on Imperial Metals - Video Research Alert Posted on InvestmentPitch.comVancouver, British Columbia--(Newsfile Corp. - August 26, 2013) - PI Financial Corp. issued a new buy \nrecommendation on Imperial Metals (TSX: III). Following a recent property visit, \nanalyst Aleem Ladak upgraded Imperial Metals from a neutral to a buy, increasing \nhis 12 month target to $14.20, a premium of 24% to the $11.49 price the day the \nreport was issued.\nInvestmentPitch.com has produced a \"video research alert\" based \non this report. If this link is not enabled, please visit \nwww.InvestmentPitch.com and enter \"Imperial\" in the search box.\n\nIf you cannot view the video above, please \n visit:http://www.investmentpitch.com/video/0_d0i0x44t/PI-Financial--Updated-Coverage--Imperial-Metals-TSX-III-August-26th\nThe well-attended site tour included the Mount Polley open pit \ncopper/gold mine, the Huckleberry open pit copper/moly mine, and the Red Chris \ncopper/gold property all located in British Columbia.\nThe 100% owned Mount Polley is expected to produce 38.5 million \npounds copper and 43,000 ounces gold in 2013. At the 50% owned Huckleberry, 2013 \ncopper production is estimated to be 40 million pounds. \nDevelopment at the wholly owned Red Chris mine is proceeding \nwith 91% of the engineering complete as of June 30, 2013. The current mine plan \nproposes an open pit which will be 400 metres deep and 1 kilometre wide. The \nmill will have a design capacity of 30,000 tonnes per day. Management estimates \nthe tailings dam is roughly 25% complete and will complete the entire dam raise \nin 8 weeks. The cost of constructing the Red Chris mine is estimated to be $500 \nmillion, with commissioning scheduled to start in May 2014.\nAfter attending the site and discussions with management with \nregards to the status of financing options available, PI Financial now believes \nImperial Metals will have minimal trouble in raiding the required capital \nthrough either debt or equity financing.\nAnalyst Aleem Ladak stated, \"We recommend investors begin to \ntake positions or increase their position in Imperial before the debt financing \nis in place which we believe will positively impact the share price. Based on \nexisting proven and probable reserves, we estimate Red Chris has the potential \nt...