SCP take on it
We maintain our BUY rating and adjust our PT to A$10.00/sh (A$10.20 prior) based on 1x NAV5%-3600/oz. Okvau is generating strong cash flow (SCPe US$235m at asset level over NTM), with US$270mof cash, bullion and investments funding Dingo Range and Memot – both expected in production end-nextyear, lifting EMR to 300-350kozpa. Moving from one mine to three by end next year with a world-classbuild team, we view Emerald as a must-own at 0.6x NAV. This is a team we back to deliver mine builds ontime and budget, with the added torque of funding from cash and cash flow
https://bpd-space.nyc3.cdn.digitaloceanspaces.com/scp/260506-scp-emr-dingo.pdf
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SCP take on itWe maintain our BUY rating and adjust our PT to...
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