Hartleys Research has maintained a “speculative buy" on Peel Mining and updated its price target to 29¢ a share as the company recently released its maiden resource estimate for the Mallee Bull polymetallic deposit in the Cobar Basin in NSW.
The resource release was largely in line with expectations in regards to size and grade. Hartleys had estimated around 4Mt in size and about 3 per cent copper equivalent for grade. Hartleys said “a larger resource (closer to 8Mt), in our view, will be required to justify a standalone operation".
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Elise Shaw writes on Markets specialising in Equity Markets, Commodities, Mining. Based in our Sydney newsroom, Elise has over 25 years experience as a finance and markets journalist and editor. Connect with Elise on Twitter.
