Sep 13th 2013 - Edison Investment Research today published a report on Euromax Resources entitled "European Gold". In summary, the report says:
Euromax Resources is a Canadian resource company with a strategy to become a mid-tier European gold producer by developing mining assets in Southeast Europe. Euromax’s flagship project, Ilovitza, is at the pre-feasibility stage and will require capex of US$476m to bring it into production in 2017. Euromax’s key competitive advantages relate to proximity to the European Union market and management’s considerable local operating experience. Risks relate to commodity pricing and access to finance. Based on our sum-of-the-parts analysis, we value Euromax at C$0.40 per share on a fully diluted basis.
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