Reflecting the operational turnaround, Aurelia Metals' second half FY21 result was broadly in line with the fourth quarter update versus Ord Minnett's expectations.
Ord Minnett updated view incorporates the Fed and latest mineral resources estimate (MRE) and latest project timeline and surprise development progress.
Overall, Ord Minnett's thesis remains unchanged, and the broker reiterates the company's remarkable organic growth potential.
The broker has revised the initial capex forecast to -$130m (from -$60m) and believes the company can be readily self-funding via existing cash ($75m), debt facility headroom ($25m), and existing project cash flow ($120m pa Dargues and Peak).
Ord Minnett maintains a Buy and price target of $0.95.
Sector: Materials.
Target price is $0.95.Current Price is $0.36. Difference: $0.59 - (brackets indicate current price is over target). If AMI meets the Ord Minnett target it will return approximately 62% (excluding dividends, fees and charges - negative figures indicate an expected loss).
AMI Price at posting:
35.5¢ Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)