MANY PEAKS MINERALS LIMITED (MPK)
Share Price Analysis and Chart

21/04/2026

1

Speculative Buy

$2.48

213.92%

Many Peaks Minerals delivered a maiden mineral resource of 26.7mt at 1.54g/t gold for 1.32m ounces at the Ferke gold project; outperforming against Morgans' estimates.

Significantly there are 1.1m ounces which sit within the measured and indicated category and the broker expects 80-90% of this will convert to reserves.

Further upside is expected as assumptions are refined. Commentary highlights the deposit is characterised by favourable geometry and grade strengthening at depth.

Speculative Buy rating maintained. Target lifts to $2.48 from $1.92.

FORECAST
Morgans forecasts a full year FY26 dividend of 0.00 cents and EPS of 0.00 cents.
Morgans forecasts a full year FY27 dividend of 0.00 cents and EPS of 0.00 cents.

02/07/2026

1

Speculative Buy

$1.90

140.51%

Canaccord Genuity maintains a Speculative Buy rating for Many Peaks Minerals with a $1.90 target price following the exercised option to acquire the Baga Gold Project in Cote d'Ivoire.

As per the broker's commentary, the acquisition follows an extensive reconnaissance geochemical program outlining over 16km of cumulative gold anomalism across nine coherent target zones, with regional structural settings and permit boundaries.

A maiden auger drilling campaign comprising approximately 2,300 holes for 14,000m has commenced to penetrate lateritic cover and generate priority locations for future drill testing.

The analyst notes the combination of multiple kilometre-scale targets, favourable regional structures, and proximity to a rapidly emerging gold district provides a sound basis for further exploration.

The core valuation is derived from a hypothetical 3Moz exploration target for the broader Ferke Project, applying the median enterprise-to-resource multiple from a set of comparable African-focused explorers.