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.
Saracen Mineral Holdings boss Raleigh Finlayson says the gold miner is unashamedly a growth stock but that organic extensions and exploration will remain its expansion priorities (reports The West Australian).
Dacian Gold has restated its confidence in the emerging Cameron Well discovery at its Mt Morgans gold mine near Laverton, pledging $14 million to drilling out what it hopes will be a third mining centre at the northern Goldfields project (reports The West Australian).
A $28m investment in exploration, which also includes $14m to test depth extensions at the Westralia underground hub, comes as the mid-tier hopeful steps up production from Mt Morgans, where the first gold bar was poured in March.
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.
This week’s tech wreck is not a bad thing for the mining sector on the basis that the sell-off is contained and that it will convince investors that it is time to replace over-hyped growth stories with some hard assets.