SMM 0.00% 0.3¢ somerset minerals limited

nice little write up in afr smart investor, page-7

  1. 1,411 Posts.
    Have put it in point form, but didn't really change alot...

    •Produces copper and gold in Punitaqui, Chile
    •Gold exploration tenement near Charters Towers in Queensland
    •Promising exploration portfolio in Portugal.
    •Developing an Armenian gold operation.
    •New management team with Hugh Callaghan as executive chairman ( previously held a range of positions at Rio Tinto and Xstrata)
    •Earnings before interest for the first half of 2007 were $9.8 million, while normal earnings were $6.5 million.
    •For 2008, expected earnings before interest, tax, depreciation and amortisation to be more than $50 million.
    •Analysts at Patersons recommend buying shares - price target 37cents
    •At current share price the company looks very cheap and is trading on less than 5 times 2008 and 2009 expected earnings.
 
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