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• Trigon reported high-grade near-surface drill results (3.62% Cu over 17.0m)
• Management announced that its mine contractor is preparing to start mining with the first blast scheduled for May 16, 2023
• Despite a strong month for the stock (up ~40%), TM is trading at just 0.2x NAV compared to copper producing peers at 0.7x NAV
This morning, Trigon Metals Inc. (TM:TSXV), announced high-grade drill results from its Kombat Mine in Namibia. The Company reported drill results from 12 holes totalling 1,320m at the Kavango North area, 150m north of the Main Kavango Pit. These results build upon the already reported high-grade copper drill results from the Main Kavango Pit and East 400 area (150m east of the Kavango Pit), highlighting the strong mineralization across the Kombat trend. The Company also announced the completion of its revised mine plan, that the work on the tailings facility is almost complete, and that the mine contractor is preparing to start mining with a planned first blast scheduled for May 16th. We are maintaining our BUY rating on Trigon Metals Inc. with a target price of C$0.60/share.
The Kavango North area was discovered by the team in January and has quickly been drilled off and incorporated into the revised mine plan. The drill holes reported in this release are from testing gaps between known mineralization previously thought to be barren. These results have been incorporated into the resource and mine plan, and will add more high-grade ore, reducing the strip ratio. High-grade highlights from holes 8, 9, 12, and 15 are below.
TM: High-Grade Drill Results, Mining to Commence May 16th
What you need to know:• Trigon reported high-grade near-surface drill results (3.62% Cu over 17.0m)
• Management announced that its mine contractor is preparing to start mining with the first blast scheduled for May 16, 2023
• Despite a strong month for the stock (up ~40%), TM is trading at just 0.2x NAV compared to copper producing peers at 0.7x NAV
This morning, Trigon Metals Inc. (TM:TSXV), announced high-grade drill results from its Kombat Mine in Namibia. The Company reported drill results from 12 holes totalling 1,320m at the Kavango North area, 150m north of the Main Kavango Pit. These results build upon the already reported high-grade copper drill results from the Main Kavango Pit and East 400 area (150m east of the Kavango Pit), highlighting the strong mineralization across the Kombat trend. The Company also announced the completion of its revised mine plan, that the work on the tailings facility is almost complete, and that the mine contractor is preparing to start mining with a planned first blast scheduled for May 16th. We are maintaining our BUY rating on Trigon Metals Inc. with a target price of C$0.60/share.
The Kavango North area was discovered by the team in January and has quickly been drilled off and incorporated into the revised mine plan. The drill holes reported in this release are from testing gaps between known mineralization previously thought to be barren. These results have been incorporated into the resource and mine plan, and will add more high-grade ore, reducing the strip ratio. High-grade highlights from holes 8, 9, 12, and 15 are below.
Underlying
TRIGON METALS INC.
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Atrium Research Corporation
Atrium Research provides institutional quality issuer paid research on North American public equities using deep fundamental analysis. Our research reports are disseminated through Bloomberg, FactSet, Capital IQ, Reuters and many more, as well as through our social media and email distribution lists.
Ben Pirie
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