CA - Karora Resources: Another Record Year

2024-01-26 15:13:40 ET

Summary

• Karora beat its guidance midpoint for a third consecutive year, maintaining the team's track record of under-promising and over-delivering.
• Meanwhile, the company has another record year on deck in 2024, with it likely to produce at least ~180,000 ounces with solid progress on ramping up mining rates to date.
• In this update we'll dig into the Q4 and FY2023 results, the forward outlook, and where the stock's updated buy zone lies.

The Gold Miners Index ( GDX ) has gotten off to a bit of a rocky start in 2024. While January is typically the best month of the year from a seasonal standpoint, that hasn’t been the case so far this year. In fact, the index is down 9% for the year, which is especially disappointing when you consider that the price of gold has been above $2,000 for 10 straight weeks now. ...

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