Jefferies retains 'buy' on Australia's Aurelia Metals after upbeat quarter

Aurelia Metals

19/10/2023 21:49

** Analysts at Jefferies reiterate "buy" rating and PT of
A$0.14 on Australian gold and base metals miner Aurelia Metals
Ltd  AMI.AX  
    ** AMI on Thursday said it was on track to deliver its FY24
guidance; qtrly gold output of 16.8 thousand ounces, marginally
higher sequentially
    ** Brokerage says AMI's unit Peak's costs will be focus over
FY24, and is making steady progress in right direction -
Jefferies
    ** Expects Dargues Mine in South East Australia to exceed
sales volumes next quarter, and continue to harvest cash to its
end of life in FY25 
    ** Adds development and de-risking of Federation project in
South East Australia into production is likely to unlock share
value
    ** AMI down 22% YTD, as of last close

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