Note: these updates are before the exploration results today. Expect another update next week after the Qtr report. - I don't have access to the full reports.
Macquarie rates AMI as Outperform
17 April 2025
Aurelia Metals released the closing cash balance of $106.7m for end-March, ahead of the quarterly report on April 23, and it was $18.7m higher than Macquarie's forecast.
The broker has lifted 3Q production estimate based on the cash balance, which pushed up FY25 EPS by 9%.
The company approved the development of Great Cobar and the feasibility study showed capital costs of $91.8m, higher than broker's $80m estimate. The broker incorporated the project into the forecasts for the first time, which supports its Outperform rating.
Outperform. Target price 31c.
AMI Price at posting:
29.0¢ Sentiment: Buy Disclosure: Held
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