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Last edited 5 months ago


"Let the battle begin"

"Stanmore have reported results in line with consensus and previous guidance, and overall there are few surprises with this result.  Nonetheless, the growth and cash generation of this business through FY19 should not be overlooked and is a reminder of the thoughtful mine planning undertaken to date. With attention squarely focussed on potential corporate activity in this stock, FY19 results are a good reminder of what made Stanmore such an attractive target in the first place. We expect the remainder of 2019 to surround the battle for control over Stanmore and this is likely to drive the share price, rather than fundamentals, in our view. Nonetheless, we see the share price being supported through this period. BUY, $1.60 maintained."

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