Grangex: Pushing ahead with dual mines in the face of double delays - Emergers

Facing delays in both financing and operational development, the current cash at SEK 43.6m means that GRANGEX must secure some short-term financing ahead of the major capital raise slated for Q4’24. We now look forward to the closing of the Sydvaranger acquisition before year end 2023, an updated PFS and the delayed commencement of drainage of Dannemora in Q1’24. Although financing is an increasingly pressing issue, the strong partnership with Anglo American bolsters our confidence that GRANGEX will obtain the necessary funds to unlock the valuation upside we foresee in Dannemora, and even more so in Sydvaranger, despite the delays. All while the rising iron ore prices continue to strengthen the case.

Länk till analysen i sin helhet: https://www.emergers.se/grangex_23q/