CHN – Macquarie rates the stock as Outperform

Chalice Mining has discovered a new zone of mineralisation to the west of Gonneville which Macquarie believes presents the potential for an extension of Hartog outside the State Forest.

The broker makes no changes to its development base case for Gonneville nor earnings forecasts but does lift its value for regional exploration potential by 50% to reflect the discovery of the new mineralised zone.

Macquarie believes it has significantly increased the likelihood of economic mineralisation being discovered at Hartog. Target rises to $10.70 from $9.80, Outperform retained.

Sector: Materials.


Target price is $10.70. Current Price is $9.65. Difference: $1.05 – (brackets indicate current price is over target). If CHN meets the Macquarie target it will return approximately 10% (excluding dividends, fees and charges – negative figures indicate an expected loss).



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