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- Release Date: 22/08/12 12:45
- Summary: GENERAL: CRP: Edison says risks for Chatham continue to reduce
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CRP
22/08/2012 10:45
GENERAL
REL: 1045 HRS Chatham Rock Phosphate Limited
GENERAL: CRP: Edison says risks for Chatham continue to reduce
22 August 2012
Edison research says risks for Chatham Rock Phosphate continue to reduce
Independent research on Chatham Rock Phosphate (CRP) prepared by Edison
Investment Research (Edison) says the most significant risks relating to the
project are easing.
"CRP is moving closer to demonstrating a commercially and technically viable
undersea mining project, risks still remain but the most significant are
easing."
"Doubts over the technical viability of undersea seabed mining at the depths
CRP is contemplating have reduced substantially, with global dredging major
Royal Boskalis taking an equity stake in CRP.
"The other main risk, mining and environmental approvals, will be CRP's major
focus over the coming 12 months."
CRP commissioned Edison to produce independent research because share-broker
analysts do not research the company.
CRP managing director Chris Castle said a summary report is included in
Edison's Asia Pacific quarterly report issued this week. A full report on
CRP will be available early next month.
He said he valued Edison's independent assessment and believed CRP has a
strong story to tell. It would inform investors both in New Zealand and
internationally and CRP could be measured against a range of international
companies.
Edison is a leading international equity research company providing
independent research on small and medium sized listed companies for
institutions and investment advisers. New Zealand has more than 200 companies
listed on the NZX, NZAX and Unlisted exchanges but analysts generally only
research the top 50.
Edison is one of the largest independent investment research companies
worldwide with more than 350 corporate clients, including a big focus on
mining research with nine dedicated mining analysts and coverage of 75 mining
companies on major exchanges.
Edison sends its research directly to a relevant international investor
audience and provides readership data to its corporate clients. The research
reports are distributed to a global database of professional investors,
advisors and analysts in major financial centres world wide, plus
organisations like Bloomberg, Reuters, Factset and Yahoo Finance.
To read the report go to www.rockphosphate.co.nz
Chris Castle 021 55 81 85 or [email protected]
End CA:00226286 For:CRP Type:GENERAL Time:2012-08-22 10:45:18
