Midas Minerals (ASX:MM1) continues to progress baseline environmental studies across its Otavi copper project in Namibia, setting the company up for inevitable development given the quality of the ore bodies, Euroz Hartleys said in a Friday note following a site visit.

The Midas team has moved quickly to upgrade a new, much larger facility in the Otavi town center, and is sourcing quotes to expand the facility again with a drilling ramp up that is in progress, the equity research firm said after visiting the T-13 and Spaatzu prospects.

T-13 and Spaatzu "will form the blend from an eventual mining scenario - and for us it's a matter of when these get developed, not if," the investment firm said.

Based on the infill drilling results so far, Euroz Hartleys expects the overall grade at T13 to increase, and the firm has pulled forward the timing of the high grade core in its mining sequence under updated models.

Meanwhile, the western part of Spaatzu seems to have reduced tenor and the eastern part of the mineralization is flattening out. Spaatzu could end up being a low cost, open pit feed for the mill, the investment firm said.

It maintained a speculative buy recommendation on Midas Minerals while raising the price target to AU$2.61 from AU$1.70.

Midas Minerals' shares rose 5% in recent Friday trade.