another buy

the chaps over at maccas are suggesting a 2011 ebitda of circa 311 or 50% increase on this years figures!!!!!

With the following comment

'We retain an Outperform and raise our TP to A$4.71 (FY11 EV/EBITDA valuation). BLY is well-leveraged to an expected robust pick-up in global exploration activity in 2011.'

IMHO with gold and copper trading at historical highs the coverage is very conservative, after all we have had 3 or 4 upward revisions this year and i see no reason why next year would be any different.