Northern Vertex Mining Corp (TSXV:NEE) announced it has an agreement with La Cuesta International Inc. to design a ~$10 million exploration program. Founders, Frank (Bud) Hillemeyer and Perry Dunning have been appointed as Exploration Advisors for the Oatman District, further strengthening the company’s team. The agreement provides the company access to the La Cuesta Proprietary Resource Data Bank of the Oatman District which hosts data going back to the 1970’s. Northern Vertex trades at C$138/oz a premium to peers (C$48/oz). We view the premium valuation as reasonable given that the Moss mine is financed, permitted and under construction. In addition, the company’s valuation does not appear to fully account for the potential of meaningful mine-life extension and improved economics from the ongoing optimization and exploration programs.
Priced as of close October 16, 2017
Derek Macpherson | VP Mining Analysis
Victoria Ellis Hayes | Associate Alex Pitcher | Associate
Priced as of prior trading day's market close, EDT (unless otherwise noted).
All values in USD unless otherwise noted.
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Northern Vertex Mining Corp. - TSXV:NEE - 1,2,3,4
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