Predictive Discovery (ASX:PDI) reported "outstanding" June quarter production results, with its Kiniero gold mine in Guinea sustaining plant throughput roughly 50% higher than its nameplate capacity, Euroz Hartleys said in a Wednesday note.
Kiniero also produced an "impressive" 54,252 ounces of gold in the June quarter, up 42% from the linked period and 27% higher than Euroz Hartleys' forecast, it said.
The company's gold recoveries improved to 90.5%, reflecting continued process optimization and strong plant performance, while mining operations supported sustained high throughput and consistent processing results, the investment firm said.
Cash and bullion increased by AU$122 million quarter over quarter for a "very healthy" AU$530 million position at the end of June, providing Predictive Discovery with "significant financial flexibility" to pursue its growth strategy, Euroz Hartleys said.
The equity research firm maintained its buy recommendation on Predictive Discovery while raising its price target to AU$1.35 per share from AU$1.28.
The company's shares fell 1% in recent Thursday trade.