Summary:
Strong 1H26 beat on margins
Aggressive network expansion, on track for $1bn revenue by FY29F
Gold-heavy book (~70%) holding up; valuation undemanding — reiterate BUY, maintain our $1.44 SOTP target (potential +67%)
George.Koh@rhtgoc.com
Paul.Schymyck@rhtgoc.com
