MNS – Macquarie rates the stock as Outperform

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Two members of the Magnis board have resigned, meaning the company loses considerable experience, the broker suggests, particularly in negotiating offtake agreements.

The broke retains Outperform and a $1.70 target on the basis of the unique opportunity Nachu offers in the graphite space, but notes uncertainty over the direction and timeline of the project is now heightened.

Target price is $1.70.Current Price is $0.66. Difference: $1.05 – (brackets indicate current price is over target). If MNS meets the Macquarie target it will return approximately 61% (excluding dividends, fees and charges – negative figures indicate an expected loss).

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