2242 GMT - Aurelia Metals keeps a bull in Ord Minnett despite a disappointing outlook. The group signaled zinc production in FY 2026 and FY 2027 would be some 32,000 tons lower than Ord Minnett had expected. Analyst Paul Kaner says initially this looked like it was driven by Aurelia's new Federation mine. In fact, much of the downgrade was driven by the Peak South operation where zinc/lead grades are expected to be lower for the final three years of mining, Ord Minnett says. "Overall, our longer-term investment thesis for Federation and New Cobar remains broadly unchanged (albeit with higher sustaining capex)," Ord Minnett says. "These assets are the key components of our valuation (+90% of net asset value) and not Peak South." (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
June 29, 2025 18:42 ET (22:42 GMT)
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