Jefferies projects strong cash flows for Australia's Aurelia Metals

Aurelia Metals

01/02/2024 04:56

** Jefferies expects Australia's Aurelia Metals'  AMI.AX 
costs in FY24 to come in marginally above guidance, but
continues to see strong positive cash flows
    ** Brokerage reiterates "buy" rating on base metals miner
and maintains price target of A$0.14 
    ** AMI trading flat as of 0416 GMT; stock fell as much as
4.4% earlier in the session
    ** AMI on Tuesday reported qtrly gold production of 14.9
thousand ounces (koz), copper output of 0.4 kilotons (kt)
    ** Brokerage says AMI's Federation zinc, lead, and gold
deposit on track for first ore production in Q1 FY25
    ** Adds, capital infusion expected to increase in 2H24 at
Federation deposit as project ramps up
    ** AMI up 4.6% this year, as of last close

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com))