Macquarie $1 target, page-3

Macquarie 11/07/2019 1 Outperform $1.00
COMMENTARY The company continues to progress targets for Beyondie and a final investment decision is due. Macquarie updates estimates for the sulphate of potash project to incorporate recent announcements and expects Beyondie to generate strong dividends.All debt is now in place and approvals are secured. The construction phase will start shortly. First production is expected mid FY21. Macquarie maintains an Outperform rating and $1.00 target.