Gold equities in general have seen a strong start to 2023. With a steady flow of news expected over the year and one of very few near-term large-scale gold development projects in WA, Ausgold is well poised to capitalise on a buoyant market. We adjust our long-term internal gold price (US$1800/oz, prior US$1750/oz). Our valuation improves to 13cps, prior 11cps. We maintain our Speculative Buy recommendation.
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