Grangex: Starting to fuel up: GRANGEX set for busy agenda in 2024 - Emergers

With the SEK 74 m (estimated 61m net) proceeds from the rights issue, we now look forward to the updated feasibility study initiated in December ‘23, the final project financing and investment decision for Dannemora, with subsequent commencement of drainage of the mine. For Sydvaranger, we await the updated Feasibility study, and the separate funding which will provide a fresh data point on valuation of Sydvaranger already in Q1’24, most likely exceeding parent company GRANGEX’ current market cap of SEK 190m. All in all, we find several triggers in the coming 12-24 months that are likely to drive a revaluation of the depressed share.

Länk till analysen i sin helhet: https://www.emergers.se/grangex_s24/