MST access just put out a research report on ABR with an unrisked target of $3-40 and risked at $4-64. They said spot Boric acid is US$900/t and with RIO Tinto experiencing declining production and problems in Turkey ABR is the only new source of Boron and fully permitted. They also spoke of the increased mine life of 50 years rather than the previous 27 which will be revealed with the upcoming revised BFS. Also mentioned was the Americans appetite to be involved with p/e multiples far higher than what we are normally used to in Australia. I think the report is extremely conservative buts its a good start. [Im still calling $5 plus first half next year.
ABR Price at posting:
$2.26 Sentiment: Buy Disclosure: Held
