"The reduced equity dilution drives EPS increases of 34% from...

"The reduced equity dilution drives EPS increases of 34% from FY26e onwardsin the medium term (once in production). The reduced equity dilution drives a31% upgrade to our target price to A$1.70"

Thanks can you post the Macquarie report (can't see anything wrong with publishing a glowing report which is already a few months old).

Wow the analysts at Macquarie seem to have the same crystal ball that you have
They are able to forecast already being in production in 2026 (only a few years away) when an inferred (low confidence) resource isn't even published yet and the metallurgy for their best asset so far (MT Hope Central) is looking questionable.

I'm sure the Macquarie folk were completely unbiased (despite being the major broker for the $1.30 raise last year).
At least their valuation of $1.70 (the joys of being able to generate any random price you see fit) seems conservative compared to your "$2-$4 by 2022"