Haywood Securities has initiated coverage of Minera Alamos with a buy rating and 12-month target price of C$0.40 per share.
Minera Alamos Mining News
To complete the transaction, the company has to secure C$6 million in financing.
The Toronto-based miner needed to complete a change of land use payment.
Once the company completes a series of payments, the Secretariat of Environment and Natural Resources would be able to issue the formal approval documentation for the project.
Minera Alamos files PEA for its La Fortuna gold project with after-tax IRR of 93%.