In a good starting position for further discoveries
The analysts at Couloir Capital have taken a closer look at the shares of the Canadian exploration company Ramp Metals (WKN A407UW / TSXV RAMP). In their opinion, the fair value of the stock is CAD 0.45. Since the stock was trading at about CAD 0.15 at the time of Couloir’s report, the analysts see an upside potential of almist 200%. Couloir Capital derives a “buy” rating from this.
According to the research report, Ramp Metals focuses on battery and base metals. The company has three properties: the Rottenstone SW project in Saskatchewan, the Peter Lake Domain (PLD) project in the same province of Canada and the Ramp lithium project in Railroad Valley in Nevada, according to the experts.
Well positioned to meet the demand for green energy metals
As Couloir explains, Ramp Metals offers the opportunity to get involved in metals that are essential for decarbonization. According to the analysts, these include nickel, copper and platinum group elements. As the company’s properties are also located in mining-friendly Canada, the company fulfills key criteria that ESG-oriented investors would apply. And as drilling is underway on several projects and Ramp Metals has a “robust” balance sheet, Couloir believes the company is in a good starting position for further discoveries. The company appears to be ready to start creating shareholder value by supplying the metals that are crucial for the green energy transition, it added.
Similarity to the Nova Bollinger deposit (AUD 1.8 billion)
Ramp’s main project, Rottenstone SW, could be similar to the Nova-Bolliger nickel and copper mine, which was originally discovered by Sirius Resources and later acquired by IGO for AUD 1.8 billion, explain the analysts. This deposit had estimated resources of 13.1 million tons at 2% nickel, 0.8% copper and 0.07% cobalt, Couloir said.
The experts also view the location of the Rottenstone SW and PLD projects in the Canadian province of Saskatchewan as positive. This is because Saskatchewan was named Canada’s leading mining region by the Frasier Institute in 2023. The Frasier Institute ranks Saskatchewan third place worldwide, and the fact that Ramp Metals is active in such a world-class region is encouraging, says Couloir.
Based on their analyses and valuation systems, the analysts at Couloir Capital have initiated coverage of Ramp Metals with a “buy” rating and a fair value estimate of CAD 0.45 per share.
The investment risk is classified as “very high”.
The full original research is available here:
Ramp Metals Inc (TSXV: RAMP): Battery metals explorer with assets in world-class mining jurisdiction
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