Strandline Resources announced a successful US$60m bond issue which completes the debt funding for the Coburn Mineral Sands Project in WA.
To complete the development funding for Coburn, an equity raise is needed, which Morgans estimates at $120m, along with a final investment decision from the board.
Morgans maintains an Add rating and increases the target price to $0.44 from $0.39. Commissioning is expected to commence in the December quarter of 2022.
Sector: Materials.
Target price is $0.44.Current Price is $0.25. Difference: $0.19 – (brackets indicate current price is over target). If STA meets the Morgans target it will return approximately 43% (excluding dividends, fees and charges – negative figures indicate an expected loss).
