Key News Overnight: Wall Street’s indexes rose on Wednesday, with the benchmark S&P 500 hitting an intraday record high as investors cheered streaming video provider Netflix’s quarterly report and President Donald Trump’s private-sector artificial intelligence infrastructure investment plan. In this issue: Evolution Mining (EVN) | Mungari delivered nine months early | Downgrade from Buy toRead more
A reassuring quarter from PDN with production at Langer Heinrich stabilising. This should be reassuring for investors. Assuming this success continues we expect PDN to achieve lower to mid-range of its revised FY25 3-3.6Mlb U3O8 production guidance. Macro news such as Trump’s Stargate AI Project remains the biggest influence of the sector. There could beRead more
Qoria followed its strong September quarter with a solid December quarter ensuring positive free cash flow for the half, as expected. Annual Recurring Revenue climbed 10% in the quarter to $132M, partly boosted by favourable currency movements. We maintain a HOLD recommendation and a valuation of $0.48. We are ceasing coverage of Qoria on releaseRead more
EVN’s 2QFY25 result was broadly in line with our forecasts and the company has reiterated its FY25 guidance ranges. The Mungari expansion project has progressed faster than expected, with EVN expecting to commence commissioning nine months earlier than planned. We bring forward our ramp up assumptions for Mungari by a year to reflect this, whichRead more
PNR’s 2QFY25 result was weaker than we had expected, with gold production and sales 6-10% below our forecasts, although we note that production was within the guidance range for the quarter. AISC were also higher than we had expected, however a higher bullion balance and favourable working capital movements results in cash and bullion ofRead more
We are initiating coverage on Emerald Resources (EMR) with a BUY rating and set $4.80 Price Target. EMR’s single operating asset, Okvau, is located in Cambodia and since commissioning in FY22 has been a consistent operation for EMR with over 339koz produced at an AISC of US$817/oz. Beyond Okvau, EMR is seeking to emulate theRead more
WAF’s 4QCY24 production result, pre-reported, was strong with 51.2koz produced up 7% QoQ. Sanbrado’s AISC of A$1,863/oz for 4QCY24 was a slight beat to our estimates and flat QoQ. Operating cash flows of A$76m were reported for 4QCY24 although A$131m of cash outflows from Kiaka resulted in a slight reduction (-4%) in cash and bullionRead more
WC8 is rapidly advancing a pre-feasibility study (PFS) on its Tabba Tabba spodumene project. The release of a maiden resource of 74.1mt @ 1.0% Li2O in November was a major milestone for the company and was the first key step in advancing the PFS. The Tabba Tabba project is located on a granted mining lease,Read more
Key News Overnight: Wall Street’s main indexes closed higher on Tuesday, with the S&P 500 and the Dow hitting their highest in more than a month, as investors assessed Donald Trump’s first actions as U.S. president and breathed relief that he did not start his second term with blanket tariff increases. In this issue: Northern Star ResourcesRead more
BGL has released results from grade control drilling from key stopes planned to be mined in the 2HFY25. Impressive grades at the Armand, Bellevue and Deacon mining areas have been released, with intersections averaging 4-6m @ 40-50g/t. Ramping up stoping in the higher-grade areas of the mine are key to BGL delivering on its ~90kozRead more
