Bell Potter raises PT on Australia's Ballard Mining citing premium placement

Ballard Mining

05/11/2025 03:07

** Bell Potter raises PT on Australia's Ballard Mining BM1.AX to A$1.05 from A$0.80; maintains "buy"

** Says placement to Aurenne Group Holdings Pty strengthens co's balance sheet with strategically aligned investor, confirms corporate attractiveness to neighbouring producer

** On October 29, gold producer secured firm commitments to raise A$20.6 mln ($13.4 mln) at A$0.55/share, 10% premium to previous day's close

** Proceeds will be used to advance growth, development strategy at Mt Ida Gold Project in Western Australia

** Bell Potter says delineation of exploration target viewed as accretive catalyst expected to significantly increase resource base of Mt Ida Project

** BM1 trading flat at A$0.545

($1 = A$1.5389)

 (Reporting by Keshav Singh Chundawat in Bengaluru)

 ((Keshav.singhchundawat@thomsonreuters.com))