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Ann: Savannah Nickel Project - Operational Update, page-87

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CadburyMilk

123 Posts.

37

18/06/23

18:37

Post #: 68347684
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Originally posted by ccdavid: ↑

Morgans rates PAN as Add

06/15/2023 | 08:31pm EDT

Panoramic Resourceshas missed FY23 guidance due to operational difficulties (failure of a filter press) at theSavannah Nickel Project, explains Morgans. Concentrate production is currently suspended and a replacement filter should be installed within four-six weeks.
The broker lowers its production forecasts toward the lower end of management's revised FY23 guidance and its target price falls to 20c from 23c, while the Add rating is unchanged.

Sector: Materials.
Target price is$0.20.Current Price is$0.09. Difference:$0.11- (brackets indicate current price is over target). If PAN meets the Morgans target it will return approximately 54% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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In my opinion, when Morgan’s & Macquarie come out with buy/ add broker reports then it needs to be seriously questioned.

Didn’t both these firms have price targets of over $0.40 a share for Panoramic about 12 months ago? What happened to those targets?

Take with a grain of salt in my opinion.

PAN Price at posting: 9.8¢ Sentiment: Sell Disclosure: Not Held
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