BLACK ROCK MINING LIMITED (BKT)
Share Price Analysis and Chart

26/07/2024

1

Buy

$0.30

552.17%

Black Rock Mining's June quarter featured two offtake agreements for large flake graphite, Shaw and Partners notes. Capex estimates for Mahenge Module 1 rose. Ultimate funding for the project to reach production will require both debt and equity.

There is also a partner process that is ongoing.

The broker maintains a Buy recommendation with a reduced price target of 30c from 46c previously, due to capex increases and continued weak graphite fines operating conditions.

FORECAST
Shaw and Partners forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -1.00 cents.

30/10/2024

1

Buy

$0.21

356.52%

Black Rock Mining remains one of the few natural graphite developers that would be strongly profitable even at today’s prices, points out Petra Capital.

Commenting on 1Q results, the analyst notes the company's large flake graphite prices have strengthened, counteracting weak graphite fines prices, with basket pricing rising to around US$1,000/t.

The broker highlights that with offtake agreements secured and C1 costs expected below US$500/t, the company maintains profitability even amid price fluctuations.

The analyst retains a Buy rating and a target price of 21c, citing secured funding arrangements and supportive graphite market conditions.

FORECAST
Petra Capital forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -0.10 cents.
Petra Capital forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -0.30 cents.