Aktieanalys

Grangex: Steep acceleration towards two permitted CO2-free iron ore projects - Emergers

Emergers Publicerad: 05 Sep 2023 08:13

2023 has proven a pivotal year for GRANGEX. Soon after the environmental court’s approval to restart Dannemora, GRANGEX announced the exclusive agreement to acquire Sydvaranger Mining AS, meaning that GRANGEX now stands on the verge of restarting two permitted iron ore projects. The open-pit Sydvaranger mine, currently in care and maintenance mode, is planned to produce an annual 4 Mton of high-grade, 68% fossil-free iron ore, with a 20 year life of mine. Price is set at USD 33m, while the most recent DFS shows a USD 550m Unlevered NPV (8%) for the asset. With an anticipated CAPEX per ton below that of Dannemora, a restart could be approximately 2.5 years away, slightly behind Dannemora.

Länk till analysen i sin helhet: https://www.emergers.se/GRANGEX_23p_2/

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