In a report released on August 15, Andrew Mikitchook from BMO Capital maintained a Buy rating on G Mining Ventures, with a price target of C$23.00.
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Andrew Mikitchook has given his Buy rating due to a combination of factors, primarily driven by G Mining Ventures’ strong financial performance and operational achievements at the Tocantinzinho mine. The company reported a robust quarter with significant free cash flow and achieved near full operational capacity, which highlights the quality and potential of the asset.
Additionally, the progress at the Oko West project, along with the anticipation of a final environmental permit, further supports the positive outlook. The company’s ability to manage costs effectively, as evidenced by the lower-than-expected all-in sustaining costs, and the strategic steps towards becoming a multi-asset producer, contribute to the favorable rating. The reaffirmation of production guidance and expectations for improved performance in the second half of the year also play a crucial role in the Buy recommendation.