Macquarie notes development of the Karlawinda gold project is nearing completion. The cost to completion is $38m and the broker anticipates no further funding will be required.
Macquarie expects the ramp up over the second half of 2021 and into 2022 will be an important indicator of the longer-term potential. Neutral rating and $1.60 target retained.
Target price is $1.60.Current Price is $1.53. Difference: $0.07 – (brackets indicate current price is over target). If CMM meets the Macquarie target it will return approximately 4% (excluding dividends, fees and charges – negative figures indicate an expected loss).