Karora Resources (TSX: KRR)
The Globe and Mail reported in its Friday, August. the 4th edition that Eight Capital analyst Puneet Singh rates Karora Resources a “buy”, in new coverage of the company.
.
Gold in drill core from Beta Hunt mine, Western Australia.
.
| Karora Resources | TSX: KRR |
| Stage | Production + Development + Exploration |
| Metals | Gold + Nickel |
| Market cap | C$748 million @ C$4.28 |
| Location | Kalgoorlie, Western Australia |
.
Globe says new coverage rates Karora Resources a “buy”
2023-08-04 04:11 ET – In the News
Also In the News (C-WDO) Wesdome Gold Mines Ltd
The Globe and Mail reports in its Friday, Aug. 4, edition that Eight Capital analyst Puneet Singh rates Karora Resources a “buy” in new coverage.
The Globe’s David Leeder writes in the Eye On Equities column that Mr. Singh set his share target at $7.
Analysts on average target the shares at $6.52.
Mr. Singh says in a note:
“While gold sentiment has been poor, the gold price at current levels ($1,900/oz) continues to offer miners strong margins.
“Karora is on the cusp of FCF generation after years of higher capex.”
“On the TSX, we highlight how Wesdome, a Canadian gold producer, has recently missed its goals as it ramps up its Kiena mine.
“On a consolidated basis, Wesdome is guiding to produce 110-130Koz at $1,620-1,800/oz AISC in 2023, yet trades at a higher valuation than Karora, which is guiding to produce 145-160Koz (H1/23 performance trending toward the top end of guidance) at $1,100-1,250/oz AISC.
“We think a rerating will likely occur over the NTM, on the back of Karora’s FCF inflection this year, production growth out to 2024, and simply due to a lower capital intensity business model leveraging existing infrastructure.”
.
To read the article in full, please click HERE
.
=======
.
If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com
=======
.
City Investors Circle is based in the financial district in the City of London
We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.
Our audience is selected and invited individually to ensure interest and relevance for the presenting company.
Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.
We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.
If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com
.
=======
,
This website is not sponsored, we are truly independent, and will always remain so.
Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.
All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.
These articles are for awareness and informational purposes only, and are not recommendations in any form. Always consult an investment professional.
.
.
Disclosure
At the time of writing the author holds shares in Karora Resources
..