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

21/04/2026

1

Speculative Buy

$2.48

105.81%

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.

22/04/2026

1

Speculative Buy

$1.85

53.53%

Canaccord Genuity maintains a Speculative Buy rating and $1.85 price target for Many Peaks Minerals after the maiden JORC resource at the Ferke Gold Project exceeded expectations.

The 1.32m ounce at 1.54g/t gold resource provides a high-confidence foundation with 83% classified as Measured and Indicated.

Mineralisation demonstrates strong vertical continuity down to -540m depth, supporting potential for simple bulk open-pit mining.

Grade results were approximately 30% higher than consensus, with low discovery costs of $8 per ounce highlighting favourable early-stage economics, the broker points out.

Canaccord Genuity expects resource growth and an updated study following further modelling towards completion in the December quarter of 2026.