ZFX zinifex limited

zinifex...one for the lazy bull, page-37

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    re: raging bull....... 0942 [Dow Jones] STOCK CALL: JP Morgan initiates coverage on Zinifex (ZFX.AU)
    with Underweight rating and A$5.75 price target. Says company trading at 52%
    premium to A$4.81 valuation. "To justify the current share price, we would need
    to raise our long-term zinc price forecast 31% from US$0.48/lb to US$0.63/lb or
    increase all our zinc price assumptions from 2006 to 2025 by 13%. We see limited
    organic growth options for Zinifex; de-bottlenecking at smelters may see some
    capacity creep but the company needs exploration success at its Century mine to
    significantly enhance value." ZFX last A$7.50. (DWR)
 
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Currently unlisted public company.

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