CYL has released some impressive grade control drilling results at Plutonic East, with the best high-grade intersection returning 9m @ 234g/t. Underground advancement at Plutonic East has progressed as planned with first ore on track for the 3QFY25. The project remains on schedule and on budget. Bringing Plutonic East and Trident into production will provideRead more
LTR’s 2QFY25 result was strong with spodumene production and sales from Kathleen Valley materially ahead of our expectations. The strong volume result enabled LTR to deliver a strong beat on AISC and generate positive operating cash flow for the quarter, which was significantly ahead of our expectations. LTR’s strong ramp up at Kathleen Valley andRead more
DEG’s 2QFY25 report has outlined key progress across various aspects of the project, the most significant being the Hemi Underground Conceptual Study where DEG provided the first indications of Hemi’s Underground potential beyond its 14-year open pit mine life. The Scheme Meeting under which NST proposes to acquire 100% of DEG is scheduled for AprilRead more
NST’s 2QFY25 result was solid with most key metrics within 1% of our forecasts. Guidance ranges for FY25 are unchanged, which implies a strong lift in gold production at KCGM. The improved performance is driven by the ramp up of the two underground mines and improving grades in the Fimiston pit as more of theRead more
Key News Overnight: Investors will closely monitor stock markets on Tuesday, the day after Donald Trump is inaugurated for his second term in the White House, to see if U.S. equities can continue their recent trend of posting gains after a president is sworn in. In this issue: Sector Report – Defence Spend | ClearRead more
GOR has reported a Maiden Ore Reserve and PFS for its 100% owned Gilmore Project, located 65km by road from Gruyere. The Gilmore PFS proposes a 5-year mine life producing 50.3kozpa (A$2,004/oz AISC) from a combination of open pit and underground production. We have incorporated the Gilmore development into our base case from CY33 onwardsRead more
We initiate on Duratec with a BUY recommendation and a $1.75 valuation. We expect tailwinds across the sectors to which it is exposed, but are most upbeat about the level of potential Defence work as the Australian Government executes on its Defence strategy. To access the full report please log in under the Research PortalRead more
We initiate coverage of Saunders with a BUY recommendation and a valuation of $1.24. We see its expanded multidisciplinary offering providing greater opportunities and likely Defence sector work to drive another growth spurt in the medium term. To access the full report please log in under the Research Portal at the bottom of this page. Read more
Anticipated Defence spend way ahead of prior iterations: The Government is planning on spending $330B to enhance Defence capability over the coming decade. Maritime a major focus: The bulk of Defence spending will be on submarines, ships, and associated facilities. Opportunities across all domains: Spending will also cover land, air, weapons, logistics, and other enablingRead more
Key News Overnight: The U.S. Federal Reserve will hold interest rates steady on Jan. 29 and resume cutting in March, according to a slim majority of economists polled by Reuters, as policymakers digest an expected barrage of new economic policies from Washington. In this issue: Gold Road Resources (GOR) | First Take – Gilmour Ore ReserveRead more
