Impact: Mildly Positive
Gran Colombia has released Q2/19 financial results on the back of strong operating results that were roughly inline with our forecast. Additionally, after a strong start to the year the company has decreased cost guidance for 2019. We maintain our fair value estimate of C$6.00/sh which is based on US$1,300/ oz Au and highlight that if we were to use US$1,500/oz Au our fair value would increase to over C$9.00/sh.