Argonaut Reiterate GGP BUY Rating & Lift Price Target to 18p

[CanisLycaon]

"GGP’s 1HFY25 underlying earnings and cash result was broadly in line with our expectations, while reported earnings were boosted by a non-cash tax credit. These results are GGP’s first since acquiring the Telfer operation and consolidating ownership of Havieron. We see upside to the fifteen-month production guidance for Telfer, with additional material expected to be sourced from the West Dome open pit and processing low-grade stockpiles. GGP is assessing several life extension options for Telfer, including additional cutbacks of West Dome, the development of the West Dome underground. Updated resource and reserve estimates are due in the 2HFY25 and could enable GGP to approve the additional cutbacks at West Dome. The completion of the Havieron Feasibility Study also presents a key catalyst in 2025. We reiterate our BUY rating on GGP, lifting our price target 6% to £0.18 due to recent strength in the gold price."

https://www.argonaut.com/greatland-gold ... n-options/