It looks like Jefferies are backing @calmbeforestorm comment’s and view’s.
BUZZ-Australia's Chalice Mining top loser on ASX 200 after Jefferies cuts rating
05 09 2023 01:09pm AEST
(Updates with share moves)
** Analysts at Jefferies downgrade Chalice Mining to "Underperform" from "Hold"; cut price target to A$2 from A$6.50
** Nickel miner is top loser on benchmark ASX 200, slipping 21% to A$2.64, its lowest since Nov 2, 2020
** Brokerage says while its Julimar project has only passed through the scoping stage, its unattractive economics are not yet fully factored into share price
** In absence of a strategic partner, project capex of A$1.6 bln-A$2.3 bln ($1.49 bln) appears prohibitive for funding options - brokerage
** Says assumed commodity prices for the valuation of the project did not represent common practice of using consensus or lower to validate its economics
** Stock had fallen 47.46% YTD, as of last close
CHN Price at posting:
$2.90 Sentiment: Sell Disclosure: Not Held
