Ambrian Partners in the U.K. have initiated coverage of Tiger Resources, following a site visit, with a Buy recommendation and a price target of 51 cents. They emphasise that this target does not ascribe any value for cobalt credits or exploration upside. Bear in mind that this valuation and report was written prior to confirmation of financing which they seemed to regard as a given. And so it has proved.
I had no idea Tigers had any following in the U.K., so it was a pleasant surprise that it was not only followed, but it was being analysed in depth by a respected company in Europe.
Seems to me that a serious re-rating is on the cards, and not before time.
TGS Price at posting:
23.0¢ Sentiment: Buy Disclosure: Held
