Santana Minerals (ASX:SMI, NZE:SMI) is expected to benefit from factors such as the gold price more than doubling in the last three years, along with a stabilized US dollar and higher confidence ounces in its resource, according to a Thursday Euroz Hartleys note.
The research firm also noted that the company has shown a higher grade reserve of 1.2 million ounces at 2.58 grams per tonne gold with improved permitting timeframes.
Euroz Hartleys maintained its speculative buy rating on SMI and increased its price target to AU$1.58 from AU$1.14.
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