GGPChat

Berenberg cuts Greatland Gold price target to 22 (26) pence - 'buy'

24.08.2022 - Reiteration at 22p

No Broker note available at present.

Date Broker Recommendation Old Target New Target Rating Type
13-Sep-22 Berenberg Bank Buy 22.00 18.00 Reiteration

Text copied from a post on ADVFN - can't verify but it looks to be kosher...

BERENBERG Advantage Greatland as debt secured, equity raised and board strengthened:

Greatland Gold (Buy, PT GBp18) released a series of announcements yesterday that strengthened the board, secured commitments for AUD220m of debt and raised AUD60m of new equity with Andrew Forrest’s Wyloo Investments, with a further AUD60m potentially to be raised through warrants. This follows on from a GBP29.7m placement last month. Greatland, which holds a 30% interest in the Havieron project in Western Australia, had previously been firmly on the back foot following the decision of Newcrest not to exercise its option to acquire an additional 5% interest in the project that would have taken it to 75%. Greatland is now fully funded for the initial development of Havieron, which hosts a resource of 5.5Moz of gold and 220kt of copper, and we believe that the company can now negotiate with Newcrest on a far more equal footing. The main catalysts for the shares should be the completion of a feasibility study for the initial development of Havieron in Q4 and ongoing exploration results from the deposit. In our view, this provides a strong platform for the shares to re-rate, having seen recent weakness.

ATB - Paddy

06.10.2022

Further reiteration of 18p target price by Berenberg.

Yet more evidence that these Brokers are clueless and it appears beyond embarrassment.

Having dispensed of those shackles myself...I completely ignore all brokers, media etc when it comes to this game and each time i read that the batty boys bring out a new note i feel vindicated.

It's obvious...isn't it?