Macquarie rates AMI as Outperform
11 July 2024
Preliminary 4Q operational numbers for Aurelia Metals revealed gold and copper production of 19.1koz and 0.9kt, respectively compared to Macquarie's forecasts for 18.7koz and 0.9kt.
For FY24, gold production of 65.3koz was above the upper end of guidance (60-65koz), copper and zinc were in line, while lead missed the lower end of guidance.
The Outperform rating is kept and the broker's target rises to 28c from 27c due to short-term forecast earnings increases.
In addition to the above, Bryan is scheduled to present at the Noosa Mining Conference next Thursday 18 July at 9:30am. Just google and you can register for free to watch online.
All the best.
KKR
Ann: FY24 Production and Cash Update, page-21
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