EXS 0.00% 26.0¢ exco resources limited

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    from Shaws earlier this week

    MORNING COMMENTS SNAP SHOTS

    Idea of the Day

    EXCO RESOURCES (EXS) @ $0.53 ST: Buy

    * White Dam gold project delivers well above projected output and costs.

    * EXS repays Barclays gold loan 7 months ahead of schedule.

    * Region drilling is expected to extend life of mine to over 4 years.

    * Cloncurry copper / gold expected to have fully DFS completed within next 2 months.

    * Ore reserves provides ~10 years development, less than half of total resource base.

    * This is an exceptional stand-alone project with NPV over $400m at current spot commodity prices, equivalent to $1.15/share?more than twice current share price not including White Dam project.

    * Price Target: $1.12.

 
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Currently unlisted public company.

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