Commodities
Ivanhoe Mines Share Price Surges on Makoko Copper Upgrade
Ivanhoe Mines (TSX:IVN) has seen its share price rebound after a Mineral Resource update for the Makoko District lifted contained copper by 30% to around 12 million tonnes.
This reframes the Western Forelands exploration story, with recent trading indicating momentum returning. However, the year-to-date share price return is down 16.08%, and the five-year total shareholder return is 43.34%
The company's fair value has been estimated at CA$55 per share by some analysts, which would represent a significant increase from its current price of CA$13.46.
Ivanhoe Mines is a Tier-1 copper/PGM/zinc developer-producer with world-class assets, including the Kamoa-Kakula project in the DRC and the Platreef project in South Africa.