Dacian Gold (ASX:DCN) shares are set to be re-rated as production ramps up at its Mt Morgans Gold Project in WA, leading analysts said this week.
In research updates published after Dacian released its latest production results, analysts from RBC Capital Markets and Macquarie agreed that the stock was poised to rise as the company hit its key targets.
Dacian said its successful September quarter ensured it remained on track to achieve its target of reaching commercial production by the end of this calendar year and its FY19 production guidance of 180,000-210,000oz.
When Tanzania suddenly introduced a raft of hostile mining laws last year, many companies put their projects in the East African country on ice while others abandoned their plans altogether (reports The West Australian).
Strandline Resources persisted and now it appears the company’s Fungoni mineral sands project could emerge as a solid, money-spinning starter operation for the West Perth based company.
In August, Strandline secured an all-important mining licence for its modest but high -grade $US35 million project.
The recently released Definitive Feasibility Study on Venturex Resources’ (ASX: VXR) Sulphur Springs copper-zinc project in WA has prompted highly-regarded Blue Ocean Equities resource analyst Steuart McIntyre to issue an upbeat assessment of the stock’s potential.
Following a spate of recent desk notes on the $41 million company, McIntyre formally initiated research coverage this week with an eye-catching 60c-a-share price target and a “strategic target” of $1-a-share.
“We initiate with a high conviction Buy and 60c target,” he wrote.
Ambitious WA gold developer Spitfire Materials (ASX: SPI), moved up more than 20 per cent on strong turnover on Wednesday as the company reported that founding director Neil Biddle had bought 700,000 shares in the company earlier in the week (reports Miningnews.net).
Biddle shelled out $41,597 to buy the parcel, sending a strong signal through the market.
“Biddle and Spitfire’s Managing Director John Young were the key players behind the creation of the hard rock lithium sector in the Pilbara region,” said Miningnews.
It was only a little more than four years ago that the then-penny dreadful Pilbara Minerals picked up what was originally the Pilgangoora tantalum-lithium project, 120km south of Port Hedland, (writes Barry FitzGerald on MiningNews).
Macquarie Equities and Credit Suisse both issued upbeat assessments of Pilbara Minerals’ (ASX: PLS) September Quarterly Report released this week, with both brokers issuing “outperform” ratings and healthy price targets of $1.20 and $1.15 respectively for the newly-minted lithium miner.