Australia's Calidus Resources up on higher gold sales

Calidus Resources

11/04/2023 03:23

** Shares of Calidus Resources  CAI.AX  rise as much as 2.2%
to A$0.235
    ** Says quarterly gold sales from its Warrawoona gold
project rose 35% q-o-q to 15,982 ounces (oz), beating Canaccord
Genuity's estimates of 14,800 oz
    ** AISC, a measure of unit cost, was A$2,093/oz, beating
Canaccord's expectation of A$2,384/oz
    ** CAI maintains H2 production guidance of 31,000 oz to
36,000 oz from the project
    ** "We expect increased gold production in the June Quarter
as final de-bottlenecking works are completed on the processing
plant" - CAI Managing Director Dave Reeves
    ** Canaccord analysts say CAI has been "heavily oversold and
is poised for a rebound aided by rising positive gold
sentiment", their price target on the stock is A$0.80 
    ** YTD, CAI down 14.8% as of last close

 (Reporting by Harshita Swaminathan)
 ((Harshita.Swaminathan@thomsonreuters.com))