Further high-grade drill results are reported from Sanbrado gold project. Macquarie believes the new resource update, expected this quarter, will provide a significant lift to the resources while also increasing open reserves.
Drilling success over the next six months is expected to be a major catalyst. Outperform rating and $0.50 target maintained.
Target price is $0.50.Current Price is $0.36. Difference: $0.14 – (brackets indicate current price is over target). If WAF meets the Macquarie target it will return approximately 29% (excluding dividends, fees and charges – negative figures indicate an expected loss).