GOR - GOLD ROAD RESOURCES LIMITED Macquarie rates GOR as Outperform (1) - Gold Road has released the results of stage one of its Gruyere pre-feasibility study, confirming a planned mill size of 7.5Mtpa. The results are in line with the broker's expectations.
The broker continues to believe Gruyere will prove a robust gold project with significant upside. Outperform and 55c target retained.
Target price is $0.55 Current Price is $0.34 Difference: $0.21 If GOR meets the Macquarie target it will return approximately 62% (excluding dividends, fees and charges).
The company's fiscal year ends in June. Macquarie forecasts a full year FY15 dividend of 0.00 cents and EPS of minus 1.80 cents .
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 18.89.
Market Sentiment: 1.0
GOR Price at posting:
34.0¢ Sentiment: Buy Disclosure: Held
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