MRE update for the Kokoseb discovery is due imminently that Argonaut estimates will be a +2Moz resource with excellent mining attributes that support a new standalone development. Recent gold price movements increase our WIA Price Target from $0.16 to $0.23 with a Speculative Buy maintained.
Key Points
Kokoseb MRE Update due soon: WIA have flagged a MRE update for Kokoseb within the next few weeks. This will be the second MRE update for Kokoseb since its initial Maiden MRE of 1.3Moz at 1.0g/t Au released back in May 2023. A considerable amount of drilling since has made significant strike and depth extensions to Kokoseb which we expect will result in a +2Moz resource.
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