LONDON (ShareCast) - (Sharecast News) - Analysts at Canaccord Genuity slightly raised their target price on gold and copper producer Greatland Gold from 25.0p to 29.0p on Tuesday following its Telfer-Havieron site visit.
Canaccord Genuity said it had returned from Telfer-Havieron with "a more positive view" on the near and medium-term outlook for the company.

In the near term, Canaccord noted that Greatland was performing well in the current quarter, while it also said there were "a range of likely life extension options" for Telfer in the medium term via the Central and Southern extensions, the Main Dome Underground, and West Dome Deeps. Long-term, Canaccord said Havieron was likely to be "significantly bigger, at a modest additional cost".

In its time at the site, Canaccord also attempted to identify key risks to the development plan and the critical path focus. In its view, water management at Havieron will be the key focus, in addition to managing the tailings facilities.

"We have adjusted our numbers for the production assumptions detailed above. This has resulted in minimal changes over the near-term, but we see a 29p net asset value/shr as a result of the Telfer life extension and the Havieron expansion being brought into our base case," said the Canadian bank, which reiterated its 'buy' rating on the stock.



Reporting by Iain Gilbert at Sharecast.com

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