Ord Minnett rates AMI as Buy
11 October 2022
A feasibility study for Aurelia Metals's Federation site has confirmed a 600,000 tonnes per annum operation with an initial eight-year mine life. Ord Minnett highlights while resource of 5m tonnes is unchanged, grades are slightly weaker than expected.
The study detailed a start to operations in FY25, with initial capital expenditure of -$108m better than the -$130m the broker had anticipated.
Currently decline works at the project are on hold given concerns over funding, driving an increase to Ord Minnett's risk weight to 40% from 20%.
The Buy rating is retained and the target price decreases to $0.50 from $0.70.
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Last
20.5¢ |
Change
-0.010(4.65%) |
Mkt cap ! $346.9M | |||
| Open | High | Low | Value | Volume |
| 21.5¢ | 21.8¢ | 20.3¢ | $7.268M | 34.96M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 849629 | 20.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 21.0¢ | 750975 | 9 |
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