BMO - Sees impact potentially positive as it saves ~$1.4B on capex, increases KGC focus on key assets
Canaccord - Downgraded to Hold vs Buy on relative valuation; PT cut to $7.70 from $8. Previously assigned "in-situ" value of $275M for FDN. Debt maturity date extension should ease medium-term cash balance concerns at current spot price
Credit Suisse - $720M impairment charge was flagged in 1Q MD&A, doesn't impact NAV
RBC - says impact of FDN cancellation "slight positive". News was "largely expected" by mkt due to continued challenges surrounding negotiation with govt. Capex savings of ~$1B from FDN will provide added financial flexibility in future yrs.
TD - Mgmt made "correct" decision by canceling FDN; impact positive. FDN had "negligible" impact on NAV, no impact on N-T ests.
Hilarious Chico... Good work Tennis on that research. I think Eyt is right. It comes as a disappointment that KGC did not get something back like at least a sale of some infrastructure at FDN for their time and effort, but they are cutting their losses now and moving on. We may hear later that they did get a little bit back I'm hoping.