Stifel Canada on Friday maintained its buy rating on the shares of K92 Mining (KNT.TO) and its C$19.00 price target after the Papua New Guinea miner released high-grade exploration results.
"K92 announced drill results from 90 surface and underground diamond drill holes at Kora, Kora South, Judd and Judd South deposits, in addition to the Kora and Judd Deeps targets at Kainantu. Impact: Positive. The results continue to demonstrate the high-grade, continuity and expansion potential of the Kora-Kora South and Judd-Judd South vein systems (MRE2023: 7.11Moz @ 8.95g/t AuEq) and reinforces our view of K92 as one our best exploration and near-term catalyst stories. Intersections were largely focused on increasing drill density vertically while also targeting resource extension along strike to the south and north. We estimate a total weighted average Kainantu intercept (since Feb-2021) of 4.33m (+2.7% vs. the last drill update in Dec-2024) and 2.67m TW (+3.4%) @ 6.85g/t AuEq (-4.5%)," analyst Ralph Profiti wrote.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
Price: 15.58, Change: -0.06, Percent Change: -0.38
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