FINWIRES · TerminalLIVE
FINWIRES

Predictive Discovery's Guinea-Based Kiniero Mine Outperforming Plan, Says Euroz Hartleys

By

Predictive Discovery's (ASX:PDI) Kiniero mine is ramping up gold production strongly, with mining and processing exceeding expectations, Euroz Hartleys said in a note on Monday, following a visit to the Guinea-based site.

The investment firm said improvements in plant performance since production began in December are underpinning higher output, better cost visibility, and a growing free cash flow profile.

Bankan mine remains a key driver of Predictive Discovery's Guinea portfolio, but progress depends on final Presidential license approval.

Predictive Discovery is moving toward becoming a diversified mid-tier gold producer, with Kiniero building operational and funding capacity in the near term, while Bankan is expected to expand future output and support its target of producing more than 400,000 ounces per year.

Euroz Hartleys upgraded the stock to buy from speculative buy and raised its price target to AU$1.28 from AU$1.12.

Related Articles

Asia

MediaTek Unit Buys $29 Million Preferred Shares in Reed Semiconductor

MediaTek (TPE:2454) unit Digimoc acquired 3.22 million preferred shares in Reed Semiconductor for about $29 million, according to a Friday Taiwan Exchange filing.Shares gained about 2% in Monday's late morning trade.The shares were purchased at an average price of about $8.99 per share, giving Digimoc an approximately 4.1% stake in Reed Semiconductor.The company made the purchase as a financial investment, it said.

TPE:2454
Asia

Fitch Upgrades CICC, Unit to A- With Stable Outlook

Fitch Ratings upgraded China International Capital Corporation's (HKG:3908, SHA:601995) long-term issuer default rating to A- from BBB+, with a stable outlook.The agency also upgraded the same rating for its wholly owned subsidiary, China International Capital Corporation (International), to A- from BBB+.The ratings agency said the upgrade reflects CICC's strengthened strategic role in supporting China's capital market reforms and financial stability, underpinned by an extremely high probability of extraordinary support from the largest shareholder, Central Huijin Investment.Fitch also cited CICC's leading investment banking franchise, expanding international footprint, improving earnings, adequate capital position, and strong liquidity as key credit strengths.The stable outlook reflects Fitch's expectation that CICC will continue to benefit from strong shareholder support while maintaining its strategic importance to China's financial system.

HKG:3908SHA:601995
Asia

Kingsmen Creatives Subsidiary Faces Winding-Up Order

Kingsmen Creatives (SGX:5MZ) subsidiary, Kingsmen Projects, received a winding-up order from the High Court of Malaya, Malaysia, according to a Friday filing with the Singapore Exchange.This comes after F&C Steel Technology initiated a winding-up petition against the indirect subsidiary, related to a sum of 218,887 ringgit, along with interest and costs, for work done.

SGX:5MZ