Leagold Mining Corp.

Leagold Mining is a Vancouver-based mining company with gold assets in Latin America. In 2017 Leagold acquired the Los Filos mine from Goldcorp, and in early 2018 Leagold announced the intention to acquire all of the assets of Brio Gold. On closing of the transaction, which is anticipated in May 2018, Leagold will have four operating mines in Mexico and Brazil, and two development projects, which in total are expected to produce 450,000 ounces of gold in 2018 and up to 700,000 ounces of gold per year by 2020. The company's shares trade on the TSX as LMC and on the OTCQX as LMCNF.

Expert Comments:

A CIBC report reviewed the miner's recently announced Q4/18 production and cost figures.
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The company provided a breakdown of the year's production by mine.
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Bryce Adams, CIBC World Markets (1/4/19)
"Leagold Mining Corp. reported Q4/18 production of 93.8 Koz, directly in line with our estimate of 93.7 Koz. . .on a full year basis, the company produced 302.6 Koz, thereby achieving the upper end of its revised guidance of 295–305 Koz. We maintain our Outperformer."

The company increased Measured & Indicated resources at both projects.
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Operations are back to their preclosure level.
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This company continues to explore expansion potential at its open pit and underground mines.
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Jamie Spratt, Clarus Securities (11/15/18)
"Leagold Mining Corp.'s Q3/18 cash flow per share beat our estimate. . .given management's execution track record, we believe the company is well positioned to leverage its growth opportunities which have the potential to deliver a compelling growth by 2020."

David Haughton, CIBC World Markets (11/15/18)
"Leagold Mining Corp. reported Q3/18 adjusted earnings per share of $0.03, beating our forecast and consensus of $0.01. . .at Q3E, the company had $47M cash on hand, sufficient to fund current operating and administration costs."

The owner of this gold asset provided the details of the revised study.
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David Haughton, CIBC World Markets (10/26/18)
"Leagold Mining Corp. stated that the new Santa Luz feasibility study yields an after-tax internal rate of return of 47% with an after-tax net present value estimated at $149M (at 5% discount rate, $1,200/oz gold). . .we expect the company to provide more optics on the project timeline with the completion of the studies on the Bermejal underground mine, a potential carbon-in-leach plant and an enlarged Los Filos open-pit mine plan at 2018E."

Jamie Spratt, Clarus Securities (10/15/18)
"Leagold Mining Corp. currently trades at about a 58% discount to peers on a price:net asset value basis, and in our view this provides a deep value rerating opportunity with successful integration of the Brio assets. . .we see two key upcoming catalysts with the Los Filos carbon-in-leach study and Santa Luz feasibility study expected before year-end."

David Haughton, CIBC World Markets (10/10/18)
"Leagold Mining Corp. is evaluating opportunities to reduce overall water consumption at its RDM mine and the minor plant modifications needed to lift the processing rate from 7 Ktpd to 9 Ktpd with increased power supply from the grid connection. . .separately, the company announced the appointment of Adriaan Roux as the chief operating officer for an initial 6-month term. Roux was a key part of the Endeavour Mining management team and has previously worked with many of the Leagold personnel."

The figures provided incorporate the three Brazilian mines the company acquired earlier this year.
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More Expert Comments

Experts Following This Company

Bryce Adams – CIBC World Markets
Andrew Breichmanas, Analyst Equity Research Mining – BMO Capital Markets
Steven Butler
Adrian Day, Founder – Adrian Day Asset Management
Ovais Habib, Analyst – Scotia Capital Inc.
David Haughton – CIBC World Markets
Rahul Paul, Research Analyst, Metals and Mining – Canaccord Genuity
Jamie Spratt, Analyst – Clarus Securities

The information provided above is from analysts, newsletters, the company and other contributors.

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Investing Highlights
New company founded by former Chair and CEO of Endeavour Mining; highly successful and proven track record
Solid foundation in the form of the Los Filos mine in Mexico; soon to add three more mines in Mexico. All four mines are free cash flow positive.
Valuable development upside in the form of an underground expansion at Los Filos, and the re-start of Santa Luz in Brazil.
catalyst Calendar
Completion of the acquisition of Brio Gold – expected May 2018
Completion of design and engineering studies for the CIL plant at Los Filos – expected mid-2018
Updated R&R for the Bermejal Underground development project at Los Filos – mid-2018
Completion of Bermejal Underground ramp and access to the high-grade sub-sill orebody – end of 2018