Chalice Gets New Bull After Resetting Gonneville Expectations -- Market Talk

Dow Jones
01/20

2249 GMT - Chalice Mining's reset of expectations around its Gonneville deposit in Western Australia gives it room to grow, says UBS. The bank upgrades Chalice to buy, from neutral, and raises its price target by 57% to A$2.75/share. Chalice recently released a pre-feasibility study into Gonneville. It outlined a 23-year, two-stage open pit development with production starting in early 2030. Analyst Levi Spry said forecast production may have been softer than market expectations, but could be a baseline. "Our updated modelling sees 10% higher production through further flow sheet optimization and increased revenue stemming from higher forecast Platinum Group Elements commodity prices," UBS says. Chalice ended Monday at A$2.28. (david.winning@wsj.com; @dwinningWSJ)

 

(END) Dow Jones Newswires

January 19, 2026 17:49 ET (22:49 GMT)

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