MAU continues to drill out its LJN4 discovery with assays pending for several key extensional holes recently completed.
Mining Lease applications are pending, expected to be finalised in 2HFY25 following completion of a Native Mining Agreement.
We expect MAU to report an Underground Study for LJN4 in the next few months which will highlight an increase to the Lady Julie production profile from 104kozpa to +150kozpa.
Drilling onsite continues with two rigs focused on extensional and infill drilling of the Northern LJN4 shoot.
MAU holds A$11.6m in cash as of 31st December.
We have lifted our Price Target from $3.20 to $3.50 driven by gold price movements.
Our Speculative Buy rating remains unchanged.
Valuation & Recommendation
We have lifted our Price Target from $3.20 to $3.50 driven by gold price movements.
Our Speculative Buy rating remains unchanged.
Upcoming catalysts for MAU include further extensional results from the LJN4 Northern Shoot along with an Underground Study which should highlight a +150kozpa potential at the Lady Julie Project.
MAU Price at posting:
$1.32 Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)