The note says it maintains its price target of $5.60, but mentions this is a result of an increase last week. Their prior PT on the 6th Jan note was $4.55.
"Both Dingo and Memot are advancing well, and while we model Dingo as the first mine build (late Q2 build start), this order could change depending on permitting"
It is my understanding that EMR has mining rights for all major drilling areas in oz that were being scoped out by Bullzeye. Freeman's find is a new prospect post the EMR acquisition of Bullzeye, and doesn't have a mining license, but that has only had a few holes drilled.
we see significant upside here and we think this is a good time to add to holdings before the updated studies / mine build starts.
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