C79 -4.49%: Provided a trading update today where guidance was mildly below current consensus, sending shares lower.
- C79 guided to FY26 revenue at the top end of $80-90m (consensus was $91m)
- FY26 EBITDA at the top end of $20-27m (consensus was $28.4m)
Given positive trends across Gold, the market was pre-empting an upgrade – we thought they would, but they haven’t. The momentum in the business still looks strong, and today’s move is more about a recalibration of the markets too bullish expectations than anything else.
MM remains long & bullish C79
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