On March 2, 2017, Fundamental Research Corp published an independent report on Inception Mining. Highlights of the report include:
- In Q3-2016, Clavo Rico reported record production of 1,488 gold equivalent ounces (“oz”) for total revenues of $1.64 million, and a cash cost of $872 / oz.
- The company is planning to quickly ramp up production to 1,000 oz per month. Revenue forecasts for 2017 is $8.35 million per the authors of the report.
- Inception is conducting a bulk sampling program at the UP & Burlington mine. The project has excellent infrastructure and management expects to initiate the permitting process shortly to advance the project to production.
- Report authors are initiating coverage on Inception with a BUY rating and a fair value estimate of $0.94 per share.
This report is authored by an unaffiliated third party using information available in the public domain, and all relevant disclosures are included at the back of the publication. The report is available to view or download at the following link: