Adriatic Metals PLC (LSE:ADT1, ASX:ADT, OTCQX:ADMLF)'s highly-anticipated operations update for its Vares silver operation sent its share price up 9% to 186p today.
Broker Stifel noted the update indicated a significant increase in tonnes mined during August and September as the first stope was brought into production.
“Encouragingly, commercial production is still expected to be reached in the fourth quarter, which we consider to be the most important upcoming milestone, and guidance for 2025 mine production of 750,000-800,000t remains unchanged,” said the broker.
A site visit for sell-side analysts and investors is scheduled for later this week.
Buy is the broker’s view. Shares rose by 16p to 186p on Monday.