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Valuation of Metals & Mining Companies Part III: Credit

Part I: Introduction Part II: Multiples Part III: Credit Mining credit is interesting because of the capital intensive and cyclical nature of the business and unpredictability of cash flows. Capital structures with high leverage are pretty common amongst players in the space. Since commodities as a whole are at the

Valuation of Metals & Mining Companies Part II: Multiples

Part I: Introduction Part II: Multiples Part III: Credit Once an appropriate price assumptions deck has been selected, analysts use a combination of these metrics to determine the value of a business. P/E (Price/Earnings) The price to earnings ratio looks at the price the investors are paying per share for each dollar

Valuation of Metals & Mining Companies Part I: Introduction

Part I: Introduction Part II: Multiples Part III: Credit Multiples analysis is a key component of valuation within Investment Banking and Equity Research as multiples are calculated based on actual market information and each multiple tells a different story about the state of a business. Analysts usually calculate a variety

Types of Mining Methods

For an introduction to metals and mining, please read the following sections for an overview to the industry: Metals & Mining Basic Materials Selecting a Mining Method Selecting which mining method to use is one of the important decisions a mining company has to make. The mining method selected should maximize cost recovery and

Overview of Senior Gold Producers in Canada

GOLDCORP INC Overview Incorporated in 1994, Goldcorp Inc. (Goldcorp) is one of the leading gold producing companies in the world. Headquartered in Vancouver, British Columbia, Canada, the company is engaged in mining activities including exploration, extraction, and processing of gold. It operates four mines in Canada, one each in Argentina and Mexico,

Canadian M&A Roundup Nov 10, 2017 – 333 West 34 Street New York, AuRico Metals

Our previous Canadian Mergers & Acquisitions roundups can be found here. Our previous global M&A roundups can be found here. Target: 333 West 34 Street Property in New York Industry: Real Estate Acquirer: Brookfield Asset Management Inc. (TSX:BAM.A) Target: 333 West 34 Street Property in New York Size: USD$255 million Consideration: 100% Cash Sourceof Funds: Cash Sell Side Advisors: Not

Canadian M&A Roundup Oct 6, 2017 – Abengoa, Omega Protein, West High Yield Resources,

Our previous Canadian Mergers & Acquisitions roundups can be found here. Our previous global M&A roundups can be found here. Target: Abengoa SA., Atlantica Yield Plc Stake (NasdaqGS:ABY) Industry: Power & Utilities Acquirer: Brookfield Asset Management Inc. (TSX:BAM.A) Target: Abengoa SA., Atlantica Yield Plc Stake (NasdaqGS:ABY) Size: $830 million Consideration: Not Disclosed Source of Funds: Not Disclosed Sell Side Advisers: Not

Weekly Movers Sep 8, 2017 – Centerra Gold, Dollarama, Pacific Insights Electronics, New Gold, Aimia, Hudbay Minerals, Hurricane Irma

Top TSX Weekly Gainers (Week of September 8, 2017) Centerra Gold Inc (TSX:CG, Chg:17.2%) Industry: Metals & Mining - Gold The political tension between the Kyrgyzstan government and CG, the majority-owner and operator of the largest gold mine (Kumtor) in Kyrgyz Republic, has been high. For more than two years, CG and the

Canada M&A Roundup Sep 8, 2017 – Cenovus Pelican Lake, Cobre Panama Project

Our previous Canadian Mergers & Acquisitions roundups can be found here. Our previous global M&A roundups can be found here. Target: Cenovus Energy Inc., Pelican Lake Assets Industry: Energy Acquirer: Canadian Natural Resources (TSX:CNQ) Target: Cenovus Energy Inc., Pelican Lake Assets Size: $975 million Consideration: 100% Cash Source of Funds: Debt

Weekly Movers Sep 1, 2017 – Polaris Materials, Prometic Life Sciences, Toromont, Painted Pony

Top TSX Weekly Gainers Polaris Materials Corp (TSX:PLS, Chg:183.3%) Industry: Basic Materials Vulcan Materials, a $16bn construction aggregates and concrete producer agreed to acquire PLS for $2.79/share in cash, valuing PLS equity at about $252mm. PLS closed last Friday at $0.96. Prometic Life Sciences Inc (TSX:PLI, Chg:25.8%) Industry: Healthcare On August 29, 2017 PLI announced that

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