Ann: Catalpa Launches Equity Capital Raising , page-23

Another research report recently uploaded onto the company website. RBS Morgans wrote: ?Net debt and corporate costs give a valuation of A$2.34/CAH share (from A$2.06). Our target remains at A$2.00, a 15% discount to valuation.?

Refer to link below for full details:

http://www.catalparesources.com.au/_content/documents/960.pdf

But of course these valuations mean nothing unless we see a price rise in line with expectation!