0017 GMT - Gold Road Resources looks too cheap to Euroz Hartleys. Gold Road has an enterprise value of A$1.36 billion, but that's below competitors like Ora Banda Mining, Emerald Resources and Spartan Resources. This puzzles analyst Michael Scantlebury given Gold Road is headed toward annual production of 170,000 oz of the precious metal. "The current discount to its peers is just too high, and we believe it will close as Gold Road's production and cashflow improves in the December quarter and into 2025 or Gold Road will be taken over," Euroz Hartleys says. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
October 30, 2024 20:17 ET (00:17 GMT)
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