{"id":436221,"date":"2010-03-16T13:19:00","date_gmt":"2010-03-16T17:19:00","guid":{"rendered":"e2249889-c78b-43e3-9643-b1d7d4aa587b:408464"},"modified":"2010-03-16T13:19:00","modified_gmt":"2010-03-16T17:19:00","slug":"inmet-well-positioned-to-find-alternative-funding-for-cobre-panama-project","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/436221","title":{"rendered":"Inmet well positioned to find alternative funding for Cobre Panama project"},"content":{"rendered":"<p><a href=\"http:\/\/www.financialpost.com\/markets\/company\/index.html?symbol=IMN&amp;id=98177\" >Inmet Corp.<\/a> shares are down slightly on Tuesday, as questions arise about the financing of its 100% owned Cobre Panama copper project in Panama. <\/p>\n<p>On Monday, Inmet said that<br \/>\nLS-Nikko, through its wholly owned subsidiary, Korea Panama Mining<br \/>\nCorporation, has decided to keep its option to acquire an<br \/>\nequity interest in Minera Panama, S.A. (MPSA), owner of the Cobre<br \/>\nPanama project, at the current 20% level.&nbsp; An option agreement<br \/>\npreviously announced provided KPMC<br \/>\nwith the ability to elect to increase its option interest in the<br \/>\nproject to 30%.<\/p>\n<p>&quot;The Korean\u2019s staying at 20% instead of 30% does raise some financing questions for Cobre Panama, however, demand for world\u2010scale copper projects is increasing, in our view, and we believe management is in a favourable position to bring in a third partner for the project to share the technical and financing risk,&quot; said Raymond James analyst Tom Meyer.<\/p>\n<p>He reiterated his Outperform rating and recommended investors buy on any potential pullback in shares. <\/p>\n<p>UBS analyst Onno Rutten maintained his Buy rating, saying Inmet could could attract alternative funding through partnerships, project finance or royalties. He said further clarity on the financing structure will be provided once the Cobre Panama Feasibility Study is ready at the end of March. <\/p>\n<p>&quot;We believe that clarity on Cobre Panama\u2019s financing and the anticipated ramp-up of Las Cruces in H2\/2010 will support IMN after the anticipated near-term challenges,&quot; he wrote in a note to clients. <\/p>\n<p><a href=\"mailto:dpett@nationalpost.com%20\">David Pett<\/a><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/network.nationalpost.com\/NP\/aggbug.aspx?PostID=408464\" width=\"1\" height=\"1\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Inmet Corp. shares are down slightly on Tuesday, as questions arise about the financing of its 100% owned Cobre Panama copper project in Panama. On Monday, Inmet said that LS-Nikko, through its wholly owned subsidiary, Korea Panama Mining Corporation, has decided to keep its option to acquire an equity interest in Minera Panama, S.A. (MPSA), [&hellip;]<\/p>\n","protected":false},"author":4060,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-436221","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/436221","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/4060"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=436221"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/436221\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=436221"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=436221"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=436221"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}