MIDAS MINERALS LIMITED (MM1)
Share Price Analysis and Chart

05/11/2026

1

Speculative Buy

$1.90

122.22%

Canaccord Genuity maintains its Speculative Buy rating for Midas Minerals with its target price increased to $1.90 from $1.50 following a shift to a DCF mining scenario for the Otavi Copper Project in Namibia.

Canaccord models a potential 8.1-year development scenario producing an average 40kt of copper and 1.6Moz of silver per annum from a 2.5Mtpa flotation plant.

The analyst notes drill data across the T-13, Deblin, and Spaatzu deposits supports a conceptual target of approximately 31Mt at 2.0% copper equivalent for approximately 600kt of contained copper equivalent.

Preproduction capital expenditure is estimated at -US$380m alongside life-of-mine C1 operating costs of US$2.00/lb copper equivalent.

Near-term catalysts include pending assay results from 11 diamond drill holes and an updated resource estimate for T-13 alongside maiden resource estimates for Deblin and Spaatzu expected in the March quarter of 2027.