Kingston Resources
www.resourcesrisingstars.com.au/...ging-fruit-wa-gold-project
“Kingston’s EV/Resource multiple of $9/oz is well below the peer group weighted average at $58/oz which we consider unwarranted given Misima's scale and near-term development potential,” Canaccord says.
“A positive outlook for the gold price and the relative dearth of advanced gold projects of scale on the ASX further supports our favourable view.”
Canaccord sees the potential for Misima to be developed into a 160-180,000ozpa operation, with the large resource base supporting a 10-year plus life. All-in sustaining costs were estimated at about $A1,230/oz.
Canaccord has an 85c price target on the stock (May 21).