A bearing failure at the mill at Gruyere has affected production for a week and 2020 guidance has been reduced by -15,000 ounces to 250-270,000 ounces. All-in sustainable costs have been lifted to $100/oz.
The company expects the third quarter will be the softest for 2020, as Gruyere transitions to a fresh feed. Macquarie retains an Outperform rating and lowers the target to $1.80 from $1.90.
Sector: Materials.
Target price is $1.80.Current Price is $1.47. Difference: $0.33 – (brackets indicate current price is over target). If GOR meets the Macquarie target it will return approximately 18% (excluding dividends, fees and charges – negative figures indicate an expected loss).
