Watch List Update: Ero Copper (ERO) - Mar 29

[dan_s]

Ero Copper Announces 18% Increase in Mineral Reserves and Extension of Mine Life to 6 Years at the Xavantina Operations

If you are bullish on copper, ERO is a profitable copper mining company with lots of "running room".

[dan_s]

Note received this morning from Raymond James.

"ERO released a new mineral resource and production plan for its Xavantina gold operation
in Brazil. 2P reserves were increased by ~18% and M&I resources by ~22% from the 2021
reserve/resource update. With the updated Reserves and Resources, ERO provided an
updated LOM production plan at Caraiba with LOM extending to 2028 (we were previously
modeling mine life to 2026) and total production over LOM of ~323 koz (we were previously
modeling ~221koz).
We have updated our model with the new resource and mine plan and increase our target
to C$25/sh (from C$24/sh)."

[dan_s]

Scotia Bank's price target is now $30Cdn