BMO Provides Color on Minco Silver

BMO Provides Color on Minco Silver

. In a research report published today, BMO commented on the company's attempt to renew its exploration permits in Fuwan, China. In the report, BMO states, “The company announced that it is in the process of renewing the Fuwan exploration permits and the resubmission of the Environmental Impact Assessment (

) for the project… BMO Research sees the required renewal of the exploration permits and resubmission of the EIA as a further delay in MSV's development plans at Fuwan. Following renewal of the exploration permits and EIA, MSV still requires the granting of a mining license by the Ministry of Land and Resources (MOLAR) before full development activities at Fuwan can proceed. Factoring in the impact of a six-month permitting delay for the Fuwan project reduces the MSV 10% nominal NPV using BMO Research metal forecasts by approximately 9%.” At the moment, BMO has an Outperform rating placed on the company's stock. On Wednesday, MSV added 6.18% to its value to finish the day at $4.98.