RSG

0.70%

70.5¢ resolute mining limited

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sentinel22

97 Posts.

15/04/21

19:37

Post #: 52499973

Originally posted by equityma: ↑
TARGET PRICE
$0.60
% TO REACH TARGET
17.65%
COMMENTARY
The mining license for Bibiani has been restored by the Ghana government yet Macquarie notes conditions imposed make the US$105m sale to Chifeng unlikely.
The company is required to submit a report detailing the full state of affairs at Bibiani along with a detailed plan for redevelopment.
Without the sale, de-leveraging of the balance sheet is reliant on operating cash flows, Macquarie points out. A commitment to develop Bibiani will require some form of capital investment, the broker adds. Target is raised to $0.60 from $0.50. Neutral maintained.
FORECAST
Macquarie forecasts a full yearFY21dividend of0.00cents and EPS ofminus -2.90cents.
Macquarie forecasts a full yearFY22dividend of0.00cents and EPS of5.00cents.
Citi
15/04/2021
3
Neutral
TARGET PRICE
$0.75
% TO REACH TARGET
47.06%
COMMENTARY
Citi believes shareholders will be relieved that there’s scope to realise some value from Bibiani, after news the mining lease in Ghana has been reinstated. This may occur either via development by Resolute Mining or divestment to an ‘approved’ third party.
Management stated debt repayments can be met. The broker agrees after removing the US$105m cash from financial models plus the US$10m in break fees from the foregone sale to Chifeng.
Separately, after a higher-than-expected life of mine (LoM) cost outlook at Syama, Citi now expects all the bad news is priced in. The Neutral rating and $0.75 target price are retained.
FORECAST
Citi forecasts a full yearFY21dividend of2.00cents and EPS of0.60cents.
Citi forecasts a full yearFY22dividend of2.00cents and EPS of2.10cents.
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RSG Price at posting: 50.5¢ Sentiment: Hold Disclosure: Held

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Last 70.5¢		Change -0.005(0.70%)		Mkt cap ! $1.500B

Open	High	Low	Value	Volume
70.0¢	71.0¢	69.0¢	$9.005M	12.87M

Buyers (Bids)

No.	Vol.	Price($)
2	151500	70.0¢

Sellers (Offers)

Price($)	Vol.	No.
70.5¢	99995	1

View Market Depth

No.	Vol.	Price($)
1	144000	0.700
1	5500	0.695
13	315905	0.690
9	230611	0.685
18	304195	0.680

Price($)	Vol.	No.
0.710	50000	1
0.715	111762	4
0.720	198762	3
0.725	58223	2
0.730	97294	3

Last trade - 16.10pm 04/10/2024 (20 minute delay)

RSG (ASX) Chart

What do you subscribe to to get the broker data?

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Buyers (Bids)

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TARGET PRICE $0.60 % TO REACH TARGET 17.65% COMMENTARY The mining license for Bibiani has been restored by the Ghana government yet Macquarie notes conditions imposed make the US$105m sale to Chifeng unlikely. The company is required to submit a report detailing the full state of affairs at Bibiani along with a detailed plan for redevelopment. Without the sale, de-leveraging of the balance sheet is reliant on operating cash flows, Macquarie points out. A commitment to develop Bibiani will require some form of capital investment, the broker adds. Target is raised to $0.60 from $0.50. Neutral maintained. FORECAST Macquarie forecasts a full yearFY21dividend of0.00cents and EPS ofminus -2.90cents. Macquarie forecasts a full yearFY22dividend of0.00cents and EPS of5.00cents.
Citi	15/04/2021	3	Neutral
TARGET PRICE $0.75 % TO REACH TARGET 47.06% COMMENTARY Citi believes shareholders will be relieved that there’s scope to realise some value from Bibiani, after news the mining lease in Ghana has been reinstated. This may occur either via development by Resolute Mining or divestment to an ‘approved’ third party. Management stated debt repayments can be met. The broker agrees after removing the US$105m cash from financial models plus the US$10m in break fees from the foregone sale to Chifeng. Separately, after a higher-than-expected life of mine (LoM) cost outlook at Syama, Citi now expects all the bad news is priced in. The Neutral rating and $0.75 target price are retained. FORECAST Citi forecasts a full yearFY21dividend of2.00cents and EPS of0.60cents. Citi forecasts a full yearFY22dividend of2.00cents and EPS of2.10cents.

What do you subscribe to to get the broker data?

Top Stories

Buxton projects new graphite province discovery at WA Narryer play

Recce eyes Indonesia for novel anti-infective as Indo-Aus ties grow stronger

Coda Minerals (ASX:COD) enters rights issue to further exploration in South Australia

Actinogen Medical ramps up Alzheimer’s treatment trials, targeting fast-track global approvals

Solstice Minerals to ramp up drilling campaign at Yarri Gold Project

White Cliff jumps 24% on 'bonanza grade' copper rock chips at Rae project, Canada

BCI reaches close of funding facility for salt-first part of Mardie project

Cokal upgrades infrastructure for BBM ramp-up in Indonesia

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Featured News

Buyers (Bids)

Sellers (Offers)

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