Macquarie downgrades to Neutral from Outperform as the target is now in line with the current share price. Target is $1.40.
Gruyere will continue to produce gold via the SAG mill and CIL circuits until the commissioning of the ball mill. Commissioning in a timely manner will influence 2019 production costs, the broker assesses, with further delays likely to push back nameplate production.
Sector: Materials.
Target price is $1.40.Current Price is $1.34. Difference: $0.06 – (brackets indicate current price is over target). If GOR meets the Macquarie target it will return approximately 4% (excluding dividends, fees and charges – negative figures indicate an expected loss).
