Company news: Aurelia Metals
Aurelia Metals surprised the market with an overwhelming production update this week, with its shares rising more than 40%. Production of gold and copper to May has already exceeded production in the March quarter. This reinforced part of our central thesis around Aurelia which is that the variability of its gold grades can lead to large positive surprises which have a meaningful impact on its value.
Boral which performed strongly this week (+17%) as Seven Group Holdings announced it has established a substantial position in the company. This affirmed the value we see in the company and may help accelerate a push to better realise value from its assets.