The board has approved the Yaoure development in Côte d’Ivoire. Funding is in place for a US$265m development from credit facilities, warrant proceeds, cash and bullion. Yaoure currently contributes $0.20 to valuation of $0.58.
Credit Suisse maintains an Outperform rating and $0.57 target.
Sector: Materials.
Target price is $0.57.Current Price is $0.44. Difference: $0.13 – (brackets indicate current price is over target). If PRU meets the Credit Suisse target it will return approximately 23% (excluding dividends, fees and charges – negative figures indicate an expected loss).
