Better grades pushed production up 43% in the September quarter for Aurelia Metals while costs were lower than Macquarie estimated. FY21 guidance has been maintained at 80-90,000 ounces.
The next catalyst is confirmation and extension of gold zones at Federation. The broker maintains an Outperform rating and $0.65 target.
Sector: Materials.
Target price is $0.65.Current Price is $0.52. Difference: $0.13 – (brackets indicate current price is over target). If AMI meets the Macquarie target it will return approximately 20% (excluding dividends, fees and charges – negative figures indicate an expected loss).
