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1. Company Snapshot

1.a. Company Description

Imperial Metals Corporation, a mining company, engages in the acquisition, exploration, development, mining, and production of base and precious metals in Canada.It holds 100% interests in the Mount Polley copper-gold mine that includes seven mining leases and 50 mineral claims covering an area of 23,369 hectares located in south-central British Columbia; and the Huckleberry copper mine, which comprises two mining leases and 49 mineral claims covering an area of 25,767 hectares situated in west-central British Columbia.The company also holds a 30% interest in the Red Chris copper-gold mine located in northwest British Columbia.


In addition, it holds a 100% interest in the Ruddock Creek lead-zinc property in British Columbia, as well as a portfolio of 23 greenfield exploration properties in British Columbia.Imperial Metals Corporation was incorporated in 1959 and is headquartered in Vancouver, Canada.

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1.b. Last Insights on III

Recent drivers behind Imperial Metals Corporation's performance include: * A Notice of Charges alleging violations of the Fisheries Act, served to the company and its subsidiary Mount Polley Mining Corporation, along with engineering firm Wood Canada Limited, on December 9, 2024. This legal issue may lead to potential fines and reputational damage. * The company's production update for the 2024 third quarter, which showed a slight increase in copper production but a slight decrease in gold production compared to the second quarter. * The recent earnings release, which reported Adjusted EBITDA of $74.2 million in Q3 2024, a significant increase of $63.7 million from Q3 2023, and total revenue of $146.1 million in the September 2024 quarter, an 86% increase from the 2023 comparative quarter.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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Imperial Provides Huckleberry Exploration Update

Nov -27

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One Imperial Metals Insider Raised Their Stake In The Previous Year

Nov -26

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Imperial Metals' (TSE:III) Earnings Are Weaker Than They Seem

Nov -12

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Imperial Metals (TSX:III) Profitability Return Reinforces Value Narrative as Shares Trade Below Fair Value

Nov -06

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Imperial Reports Third Quarter 2025 Financial Results

Nov -04

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Repayment of Senior Unsecured Non-Convertible Debentures

Oct -31

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Imperial Metals Posts Higher Third-quarter Production at Red Chris Mine

Oct -23

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Imperial Reports Production for 2025 Third Quarter at Red Chris Mine

Oct -23

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.83%)

6. Segments

Mount Polley

Expected Growth: 4.83%

Mount Polley's 4.83% growth is driven by Imperial Metals Corporation's strategic expansion into copper and gold mining, increasing demand for these metals, and efficient operations. Additionally, the company's focus on cost reduction, exploration of new deposits, and strong cash flow generation have contributed to this growth.

Red Chris

Expected Growth: 4.83%

Red Chris's 4.83% growth is driven by increasing copper prices, improved ore grades, and enhanced mill throughput. Additionally, Imperial Metals' focus on operational efficiencies, cost reductions, and strategic investments in exploration and development have contributed to the mine's growth.

Huckleberry

Expected Growth: 4.83%

Huckleberry's 4.83% growth is driven by increasing copper prices, Imperial Metals' focus on operational efficiency, and strategic cost management. Additionally, the mine's high-grade ore and low cash costs per pound of copper produced contribute to its strong performance.

Corporate and Others

Expected Growth: 4.6%

Imperial Metals Corporation's Corporate and Others segment growth of 4.6% is driven by increased copper prices, improved operational efficiency, and strategic cost reductions. Additionally, the company's focus on exploration and development of new projects, such as the Red Chris mine, has contributed to the segment's growth.

7. Detailed Products

Copper

Imperial Metals Corporation is a significant producer of copper, a highly conductive and malleable metal used in various industrial applications, including electrical wiring, plumbing, and architecture.

Zinc

The company also produces zinc, a corrosion-resistant metal used in galvanizing other metals, die-casting, and as an alloy in batteries.

Gold

Imperial Metals Corporation extracts gold, a highly valued precious metal used in jewelry, coins, and as a store of value.

Silver

The company produces silver, a highly conductive and malleable metal used in electronics, solar panels, and medical applications.

Molybdenum

Imperial Metals Corporation also produces molybdenum, a hard, silver-white metal used in steel alloys, catalysts, and furnace components.

8. Imperial Metals Corporation's Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Imperial Metals Corporation is medium due to the availability of alternative metals and mining companies.

Bargaining Power Of Customers

The bargaining power of customers for Imperial Metals Corporation is low due to the company's strong market position and limited customer concentration.

Bargaining Power Of Suppliers

The bargaining power of suppliers for Imperial Metals Corporation is medium due to the company's dependence on a few key suppliers and the availability of alternative suppliers.

Threat Of New Entrants

The threat of new entrants for Imperial Metals Corporation is high due to the relatively low barriers to entry in the mining industry and the attractiveness of the industry.

Intensity Of Rivalry

The intensity of rivalry for Imperial Metals Corporation is high due to the competitive nature of the mining industry and the presence of several established players.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 30.87%
Debt Cost 9.98%
Equity Weight 69.13%
Equity Cost 9.98%
WACC 9.98%
Leverage 44.65%

11. Quality Control: Imperial Metals Corporation passed 1 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Amerigo Resources

A-Score: 6.6/10

Value: 5.3

Growth: 6.4

Quality: 5.9

Yield: 9.0

Momentum: 8.0

Volatility: 5.0

1-Year Total Return ->

Stock-Card
Imperial Metals

A-Score: 6.2/10

Value: 7.0

Growth: 9.0

Quality: 7.4

Yield: 0.0

Momentum: 10.0

Volatility: 3.7

1-Year Total Return ->

Stock-Card
Centerra Gold

A-Score: 5.7/10

Value: 4.3

Growth: 5.4

Quality: 5.5

Yield: 5.0

Momentum: 9.0

Volatility: 5.0

1-Year Total Return ->

Stock-Card
Taseko Mines

A-Score: 4.0/10

Value: 4.3

Growth: 5.8

Quality: 2.1

Yield: 0.0

Momentum: 9.0

Volatility: 3.0

1-Year Total Return ->

Stock-Card
Ero Copper

A-Score: 3.9/10

Value: 5.1

Growth: 3.4

Quality: 6.0

Yield: 0.0

Momentum: 5.0

Volatility: 4.0

1-Year Total Return ->

Stock-Card
Ivanhoe Electric

A-Score: 3.8/10

Value: 6.2

Growth: 0.8

Quality: 4.8

Yield: 0.0

Momentum: 9.0

Volatility: 2.0

1-Year Total Return ->

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

7.77$

Current Price

7.77$

Potential

-0.00%

Expected Cash-Flows