SMI continues to progress its Bendigo-Ophir Gold Project (BOGP) towards production with plans to submit the project for permitting on the 25th April via the ‘Fast Track Approvals’ process, which has now been enacted into law. Various ongoing work programs continue, which will be incorporated into an updated PFS targeted for 4QFY25. The updated PFS will target reduced pre-strip amounts, thereby lowering pre-production capital costs where possible. Spot gold prices lift our price target from $1.00 to $1.10 with a Speculative Buy recommendation maintained.
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