Canaccord Genuity initiates coverage on Ausgold stock with Spec. Buy
Investing.com
Published Jun 23, 2025 01:44AM ET
Investing.com - Canaccord Genuity initiated coverage on Ausgold Ltd (ASX:AUC) with a Speculative Buy rating and a price target of AUD1.60 on Monday.
The gold developer is advancing its wholly-owned Katanning Gold Project located in southwestern Western Australia, approximately 275 kilometers southeast of Perth. The project covers more than 3,500 square kilometers of the under-explored Katanning greenstone belt.
The Katanning Gold Project hosts a resource of 3 million ounces, last updated in September 2023, with 2.4 million ounces in the Measured and Indicated categories. This makes it the largest undeveloped free-milling open-cut gold project in Western Australia.
Canaccord Genuity notes that Ausgold is on track to deliver a Definitive Feasibility Study in the short term, which is expected to incorporate an updated economically constrained resource and reserve.
The company finished the March quarter 2025 with AUD14.9 million in cash, no debt, and has approximately AUD6.5 million of in-the-money options, according to Canaccord Genuity.
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