Macquarie Research August 2021, page-3

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kennyken

166 Posts.

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07/11/21

20:42

Post #: 57381946
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Originally posted by lanek: ↑

Thanks KK: good yardstick for the imminent announcement and Macq update which will follow.
The bank did issue an update on 28th Sept and revised their price target to A$ps to $9.00 on the back of a 9% lowering of the mining inventory. In that revision Pd went from 4,980koz to 4,527koz and Pt from 1,245koz to 1,132koz. Also lower were Au, Ni, Cu and Co. I found that rather strange since it was based on the then latest round of drilling results - which were trumpeted as "Extension drilling results are encouraging". (Did they have other information related to the unfolding MRE?). All calculations were based on long-term prices which were much, much lower than spot prices (excluding Co) - e.g. Pd was set at USD1,000/oz vs the spot of USD1,964/oz
Anyway I can accept a 7% 28/09/21 revision, from their immediately previous $9.70, to $9.00. which is for Gonneville only and excludes Hartog.

Looking ahead, the big picture is looking good:-
US October unemployment has dropped to 4.6% from 4.8% and the trillion$ bill has been passed.
Growth is undeniable and inflation and prices have only one direction to go....and it is not down!
That is a great scene into which this venture is going to be launched.

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Agreed. Old timers like me are holding for the potential upside in Hartog, Janz and Baudin. I daresay the newer shareholders are also hoping the other sites have similar success. I recall listening to one of AD’s presentation. They have 70 drill ready sites and are looking at putting 12 x holes in each site. CHN are ready to drill the bejesus out of this area, we just need to play the patient game and wait for the government red tape to be conquered. Next 6 months will be very interesting.

CHN Price at posting: $6.77 Sentiment: Buy Disclosure: Held
8 Upvote

0 Great analysis

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