Canaccord Genuity lowers PT on Aussie gold miner Calidus Resources

Calidus Resources

06/07/2023 22:43

** Brokerage Canaccord Genuity cuts price target on
Australia's Calidus Resources  CAI.AX  to A$0.65 from A$0.85,
citing stock dilution and reduction in co's cash balance 
    ** Maintains rating at "speculative buy"
    ** Co ended March quarter with cash and bullion balance of
A$7.5 mln ($4.97 mln) and A$87 mln in debt
    ** The gold explorer on Thursday posted record quarterly
gold production at its Warrawoona project in Western Australia
but missed Canaccord estimates
    ** Stock has fallen 25.9% this year, as of last close


($1 = 1.5099 Australian dollars)

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))