Greatland Gold PLC's (AIM:GGP, OTC:GRLGF) appointment of Dean Horton as CFO is timely as the miner nears a pivotal stage in its Havieron gold-copper development in the Pilbara region of Australia.
A definitive feasibility study on the project, due in 2024, and a full project funding solution to come are the next key steps.
The appointment will also provide a solid footing as joint venture partner Newmont progresses the sale process for its Havieron stake, Berenberg added, should the opportunity arise for Greatland Gold to participate in a value accretive transaction.
A price target of 12p is based on one times Berenberg’s discounted cash flow-derived net asset value.
Shares today were 7.35p.