BCN’s 4QFY24 production, pre-released, was 3.9koz, down 27% QoQ and 39% below our estimates. Capex outlays from the MacPhersons pre-strip continue to drag on BCN’s cash position with A$6.2M spent during the quarter. We expect a gradual improvement in BCN’s free cash flows over the next few quarters as pre-strip costs fall away and the Jaurdi mill receives higher grade MacPhersons ore. We make a slight increase to our $0.044 Price Target ($0.040 prior) driven higher mainly by gold price movements.
To access the full report please log in under the Client Area at the bottom of this page.
Argonaut’s Client Area allows you to view delayed share prices, access Argonaut’s wealth of Research as well as create custom portfolios and set up company watch lists.
If you would like to access our research please contact us to create an account.