Metallic Minerals Corp. (MMG:TSX.V; MMNGF:OTCQB) has reached several exploration milestones at its La Plata Copper and Keno Silver projects, Couloir Capital said in an updated research note on the company September 8.
The company is now earning royalties from alluvial gold claims at its Australia Creek property near Dawson City, Yukon, in the historic Klondike gold district, the firm pointed out.
New Targets, Strong Assays at La Plata
The La Plata project has seen impressive high-grade surface results, with recent assays showing grades up to 6.68% copper equivalent (Cu Eq). These findings significantly boost the project's visibility and support the case for near-term drilling, highlighting the under-explored potential of the broader La Plata district.
The discovery of both light and heavy rare earth metals further enhances the project's strategic value, Couloir said.
Multiple Near-Term Catalysts
An updated resource estimate for La Plata, which will include platinum, palladium, and gold alongside copper and silver for the first time, is anticipated in 2025. This update is expected to significantly increase the project's scale and flexibility.
Concurrently, ongoing resource expansion drilling at Keno Silver is expected to provide additional news and potential for substantial resource growth.
Royalty operations also are projected to increase, with higher production expected at Australia Creek. Discussions are also underway for additional royalty agreements, which could further diversify and strengthen the company's cash flow profile, Couloir said.
"Based on our analysis and valuation models, we maintain our BUY rating and update our fair value per share estimate to CA$0.80 (earlier CA$0.57)," Couloir said. The upside would be a projected 167% from the share price at time of writing.
Catalysts expected to affect the company's valuation model, according to Couloir, include news from exploration at the La Plata, Keno Silver, or Klondike projects; news expanding the resource base at La Plata; news of any delays in in exploration or permitting; and financing-related news that would alter the company's capital structure.
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Important Disclosures:
- Metallic Minerals Corp. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$3,000 and US$6,000. In addition, Metallic Minerals Corp. has a consulting relationship with Street Smart an affiliate of Streetwise Reports. Street Smart Clients pay a monthly consulting fee between US$8,000 and US$20,000.
- As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Metallic Minerals Corp.
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Disclosures for Couloir Capital, Metallic Minerals Corp., September 8, 2025:
This report has been prepared by an analyst on contract with or employed by Couloir Capital Ltd.
The analyst certifies that the views expressed in this report, which include the rating assigned to the issuer’s shares as well as the analytical substance and tone of the report, accurately reflect his or her personal views about the subject securities and the issuer. No part of his / her compensation was, is, or will be directly or indirectly related to the specific recommendations.
Couloir Capital, its affiliates, and their respective officers, directors, representatives, researchers, and members of their families may hold positions in the companies mentioned in this document and may buy and/or sell their securities. Additionally, Couloir Capital may have provided, in the past and may provide, in the future, certain advisory or corporate finance services and receive financial and other incentives from issuers as consideration for the provision of such services.
Couloir Capital has prepared this document for general information purposes only. This document should not be considered a solicitation to purchase or sell securities or a recommendation to buy or sell securities. The information provided has been derived from sources believed to be accurate, but cannot be guaranteed. This document does not consider the particular investment objectives, financial situations, or needs of individual recipients and other issues (e.g., prohibitions to investments due to law, jurisdiction issues, etc.) that may exist for certain persons. Recipients should rely on their own investigations and take their own professional advice before making an investment. Couloir Capital will not treat recipients of this document as clients by virtue of having viewed this document.
Company-specific disclosures, if any, are below:
1 In the last 24 months, Couloir Capital Ltd. has been retained by the subject issuer under a service agreement that includes analyst research coverage.
2 The views of the Analyst are personal.
3 No part of the Analyst’s compensation was directly or indirectly related to the specific ratings as used by the research Analyst in the Reports.
4 The Analyst does not maintain a financial interest in the securities or options of the Company.
5 The principal of Couloir Capital maintains a financial interest in the securities or options of the
Company through an affiliated hedge fund entity.
6 The information contained in the Reports is based upon publicly available information that the Analyst believes to be correct but has not independently verified with respect to truth or correctness.
Placing a stock Under Review does not revise the current rating or recommendation of the analyst. A stock will be placed Under Review when the relevant company has a significant material event with further information pending or to be announced. An analyst will place a stock Under Review while he/she awaits enough information to re-evaluate the company’s financial situation.
The above ratings are determined by the analyst at the time of publication. On occasion, total returns may fall outside of the ranges due to market price movements and/or short-term volatility.
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