OTCPK:KRCLF - Post by User
Post by
davgroon Jul 15, 2022 2:10pm
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Karora Resources Buy Rating Reiterated at Stifel GMP
Karora Resources Buy Rating Reiterated at Stifel GMP2022-07-15 11:42:29 AM ET (MT Newswires)
1:42 AM EDT, 07/15/2022 (MT Newswires) -- Stifel GMP on Friday reiterated its buy rating on the shares of Karora Resources (KRR.TO) with a C$6.60 price target following the release of the company's second-quarter production results from its Australian gold projects.
"Karora Resources today announced production of 30,652 oz Au for the quarter from its Beta Hunt and Higginsville mines situated in the Kalgoorlie Belt of Western Australia. Together with May's announcement of ahead-of-schedule progress of the second decline at Beta Hunt, we believe the company is showing good progress to reach its goal of ~200k oz Au annual production by 2024. Today's update is confirmation that the company is on track to deliver growth in a politically-stable jurisdiction, and we rate it as a BUY," analyst Ian Parkinson wrote.