PNR’s Norseman Project has produced excellent drilling results to date, and PNR is well on the way to defining a minable inventory. The Norseman area is a mature mining region, and as a result, has a large amount of mining infrastructure in place, including serviceable underground mines, sealed roads and an existing gold plant. A feasibility study for the recommencement of mining and plant refurbishment is underway. The Halls Creek mine in the Kimberley region of WA has turned a corner and is producing free cash flow that will primarily fund Norseman exploration and development going forward. PNR has a number of key catalysts over the next year which should result in a strong rerating in a market that is favouring gold mining companies. We upgrade our HOLD recommendation to a BUY with a price target of $0.20.
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.
