BCN’s 1QFY25 production result, pre-reported, of 5.2koz, marked an improvement of 33% QoQ as head grades and recoveries trended higher following a transition to the processing of MacPherson’s ore. We maintain our Speculative Buy recommendation with gold price movements lifting our price target from $0.049 to $0.051. Post completion of its recent equity raise, BCN is now well-funded to pursue its growth projects at Lady Ida and Mt Dimer.
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