The quarter was softer than expected however development at Cue is ahead of schedule and should enable a ramp-up of gold production over the remainder of FY25. Guidance has been maintained. RMS continues to have a solid balance sheet with A$439m in cash and bullion and A$293m in listed investments which includes its 18.35% stake in SPR. Key near-term catalysts include acceleration of mining and processing of Cue ore, the Eridanus resources and Mt Magnet mill expansion study and the Rebeca-Roe PFS. We reiterate our BUY rating and A$2.60 price target noting strong cash flow is expected in 2HFY25.
To access the full report please log in under the Client Area at the bottom of this page.
Argonaut’s Client Area allows you to view delayed share prices, access Argonaut’s wealth of Research as well as create custom portfolios and set up company watch lists.
If you would like to access our research please contact us to create an account.
