We are initiating coverage on Karora Resources with a HOLD rating and set a C$5.00 price target. KRR owns the Beta Hunt and Higginsville gold mines in Western Australia. We expect the assets will produce 182koz in CY24 at an AISC of US$1,405/oz. An expansion of the Beta Hunt mine to 2.0mtpa provides a pathway to grow production to +200kozpa from CY25. Our base case production forecasts for KRR assume a 7-8-year mine life at both Beta Hunt and Higginsville. KRR confirmed it has entered into exclusive merger discussions with Ramelius Resources (RMS AU, BUY, Price Target A$2.20).
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.
