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Investing.com - BMO Capital has raised its price target on Aris Mining Corp (TSX:ARIS) to C$19.00 from C$18.00 while maintaining an Outperform rating on the stock.
The price target increase follows Aris Mining’s release of a Preliminary Economic Assessment (PEA) summary for its Toroparu Project, which BMO Capital analyst Brian Quast noted has a positive impact on the firm’s estimates.
According to the PEA, the Toroparu Project is expected to have a mine life of approximately 21 years with total production of 5.0 million ounces of gold, 4.9 million ounces of silver, and 260 million pounds of copper.
The project is projected to operate with cash costs of US$826 per ounce and all-in sustaining costs (AISC) of US$1,289 per ounce, according to the PEA summary cited by BMO Capital.
BMO Capital estimates the Toroparu Project to have a net present value of US$1.1 billion, contributing to the firm’s decision to raise its target price while maintaining its Outperform rating on Aris Mining stock.
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