Following Edison Group’s short update on the La Colorada Skarn preliminary economic assessment (PEA), they are revising their valuation of Pan American Silver Corp. (PAAS) to incorporate the Skarn’s risked NPV. Edison has also reflected up-to-date commodity prices and lower WACC thanks to the reduction in bond yields. Overall, Edison’s valuation of PAAS increases from US$22.7 to US$23.5/share. While the stock has recently been propped up by the strong gold price, they see the upcoming publication of the FY24 outlook and FY23 results as potential additional catalysts for the shares.
3 January 2024
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