0040 GMT - Morgans says its confidence in Mineral Resources' ability to execute at its Onslow iron-ore project over the next six months has increased following its latest quarterly report. MinRes says the upgrade to the Onslow haul road remains on schedule to be completed in 1Q of FY 2026. It also expects the project to reach its nameplate capacity of 35 million tons/year in the same period. Analyst Annabelle Sleeman raises MinRes to add, from hold. "We caution that MinRes remains a high-risk investment with debt still elevated, combined with our bearish view of the lithium market and neutral view of the iron ore market," Morgans says. "However, we now see it as undervalued." (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
April 29, 2025 20:40 ET (00:40 GMT)
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