big upside 38 > 52

As no-one seems to be covering this company, and as I just became a shareholder, I'll post this BUY recommendation from a large broker:

Valuation and risks to target price
Our DCF valuation using a WACC of 9.42% for the CS Energy contract for 6PJ per year for 15 years from mid 2006 is 10c per QGC share based on fully expanded
issued capital (assuming A$10m raised with the current SPP). The Incitec Pivot contract is valued at 8c per QGC share. Real upside lies with the Chinchilla power
station, and the potential for profitable gas sales into a base load power station. The probability has increased, and upside potential to the size of the station has also
added value, with our valuation of this A$0.32 per QGC share. The realisation of the Gibson Island power station and expansion of production into other gas contracts
would also add to our valuation. We have risked this down to 6c per share.

Valuation snapshot
Fair value* (A$) 0.52
Target price (A$) 0.52
Current price (A$) 0.38
Upside/downside 22%
* Methodology DCF
Assumptions
WACC 9.42%
Beta 1.18
Equity risk premium 4.50%
Risk-free rate 5.25%

R,
do your research