Australia's Calidus Resources rises on upbeat gold production from WA project

Calidus Resources

06/03/2023 04:37

(Adds comments from Canaccord Genuity)
    ** Shares of Calidus Resources Ltd  CAI.AX  rise as much as
8.9% to A$0.245 - set for best day since Feb. 20, if current
gains hold
    ** Gold producer processes a total of 182,000 tonnes of ore
in Feb from its Warrawoona Gold Project in Western Australia
    ** Co recovers a total of 5,005 ounces of gold after
processing
    ** Says gold production in Feb equates to 180 ounces per
day, or 66,000 ounces annualised
        ** Analysts at Canaccord Genuity say this is co's "best
performance to date during the current mine ramp-up phase"
    ** Canaccord analysts expect this quarter production to
build from month to month, on track to meet brokerage's forecast
    ** Shares hit their highest since Feb. 22
    ** Shares down 16.7% YTD, as of last close

 (Reporting by Harshita Swaminathan and John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))