2154 GMT - The recent pullback in Aurelia Metals's share price surprises Ord Minnett. Aurelia's 1Q result was slightly softer than analyst Paul Kaner expected. But it also contained the outcome of Aurelia's study of how to expand its Cobar operation. The study favors an expansion of Aurelia's Peak mill to an annual processing capacity of 1.1 million-1.2 million tons of ore over the restart of facilities at Hera. Ord Minnett sees that as a net positive. Aurelia Metals's shares are down nearly 10% this week to A$0.19. "We see this pullback as an opportunity," says Ord Minnett. It retains a speculative buy call and A$0.27/share price target. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
October 23, 2024 17:54 ET (21:54 GMT)
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