Macquarie resumed coverage of Bellevue Gold after a short hiatus with a Outperform rating and $1.40 target.
The stage 2 study has boosted production in the first five years to 200,000 ounces per annum and a $306m funding package will now mean the project can advance to production. Reducing exploration expenditure improves the broker’s estimates for FY22 by 37%.
Sector: Materials.
Current Price is $0.85. Target price not assessed.
